EU seeks to revive Latin America, Caribbean ties as it turns away from China, Russia
On Monday, over 50 leaders from the European Union, Latin America, and the Caribbean will meet for the first time in eight years, boosting the EU’s search for new political and economic partners amid the Ukraine war and China skepticism.
At the two-day EU-CELAC (Community of Latin American and Caribbean States) conference in Brussels, both sides are anticipated to be eager to establish economic ties, but delicate debates over Russia’s invasion of Ukraine and Europe’s role in the slave trade could complicate the negotiations.
Regardless of the outcome, authorities said the summit strengthened connections.
“The most important issue of the meeting is the meeting itself,” Argentine Undersecretary for Latin American and Caribbean Affairs Gustavo Martinez Pandiani told a small gathering of reporters in Brussels. “After eight years, we can reconnect.”
The EU wants a joint statement criticizing Russia, but it knows it won’t happen. In February, most CELAC countries supported a UN resolution calling for a prompt Russian army withdrawal, although Nicaragua, Bolivia, Cuba, and El Salvador abstained.
Luiz Inacio Lula da Silva has presented himself as an impartial peace broker.
Russia, the EU’s largest gas supplier until the Ukraine crisis began in February last year, has been cut off.
It also wants to minimize its reliance on China and create partnerships with “reliable partners” to open new markets to trade and acquire minerals needed for electric vehicles and the low-carbon economy, a supply chain China dominates.
The EU has admitted to neglecting its Latin American partners as China’s prominence in the area has grown, yet regular EU-CELAC summits can offset Beijing.
El Salvador, Mexico, Peru, and Venezuela’s presidents are not anticipated to attend the Brussels discussions.
CELAC partners prefer manufacturing lithium batteries or electric vehicles to shipping resources to be processed abroad, even though they want EU investment.
The EU’s trade pact with Chile, the world’s largest copper and second-largest lithium producer, might take effect next year.
It wants to unlock trade treaties with Mexico in 2018 and Mercosur in 2019, but officials aren’t expecting any breakthroughs at the conference.
Before the summit, the EU and Argentina will sign an energy cooperation MOU.
As part of its Global Gateway strategy, the EU may reveal intentions to invest 10 billion euros ($11.2 billion) in CELAC infrastructure projects.€1 = $0.8907.
