EU and CELAC agreed to promote cooperation and investment agenda

On September 15 of this year, in Santiago de Compostela, the historic meeting between the Ministers of Economy and Finance of the European Union and Latin America and the Caribbean was held, a summit aimed at promoting trade relations and cooperation between the two blocs in the face of the challenges of global sustainability.

Organized by Spain and CAF, the forum is a relevant instance to overcome the social and economic gaps in the region and accelerate the transition to a green and sustainable economy. To this end, as announced in July at the EU-CELAC Business Summit of Heads of State, the EU’s commitment to invest 45 billion euros in Latin America and the Caribbean was reaffirmed.

At this first meeting between EU and CELAC ministers, some forty top-level speakers reflected on the state of the relationship between the two blocs and the opportunities and challenges they will face in the future, such as digitalization, human development, sustainable development, and the transition to a green economy.

The historic meeting brought together representatives from 60 countries, representing 14% of the world’s population and 21% of its GDP, and it was agreed that this summit will be held every two years to share best practices, check the progress of investment projects and evaluate the steps to be taken in the future.

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