We have the potential to create the history of the next decade during Spain’s EU leadership over the next six months. Within this era, we must decide whether to act on the relationship between Europe, Latin America, and the Caribbean. To act or not to act? In other words, will we follow an ambitious plan that goes beyond announcements of purpose, or will we continue to preserve a traditional partnership that, while useful, has not reached its full potential?
The good news is that we are on the right track. Spain is a prominent advocate for the resumption of relations between the two regions. This situation is encouraging, but there are certain fundamental issues that must be addressed. To begin, we must abandon the Latin American synecdoche: cease treating one portion as if it were the total. In other words, Europe must recognize that Latin America and the Caribbean are not a collection of bilateral ties with a few countries.
Latin America is the Amazon, but it is also the Darién, Caribbean reefs, pampas aquifers, Andean paramos, and Patagonia glaciers. As a result, the EU’s approaches to the region must be distinct, customized, and tailored to each country and subregion, whether in the Southern Cone, the Andean axis, the Caribbean, or Mesoamerica. Nature has no political or governmental borders.
Second, in order to involve all EU countries, it is vital to nurture and highlight common historical and cultural values, as well as a shared perspective of the world. Aside from trade, Latin America and the Caribbean are a haven of peace and shelter. For much of the twentieth century, for example, it welcomed citizens from all European countries in times of crisis, conflict, and between wars, and millions of exiles became citizens of Latin America and the Caribbean.
At this juncture, actors such as the CAF – Development Bank of Latin America and the Caribbean – are promoting new alliances to expand investment and trade, jointly address major global challenges such as climate change and digital transformation, and give Latin American and Caribbean solutions a seat at international decision-making tables.
The European Union provides the greatest formal development assistance, and Latin America and the Caribbean is a region of solutions, such as in environmental challenges, biodiversity protection, and food security, so we must strengthen and secure these synergies.
We have a well-organized plan. The first visit will be the Heads of State Business Summit in Brussels on July 17. This CAF, IDB, and European Commission event will bring together political leaders, corporate CEOs, heads of development financing institutions, and industry groups to discuss key components of the Global Gateway Investment Agenda.
The second destination will be the maiden gathering of finance ministers from the EU, Latin America, and the Caribbean on September 15 in Santiago de Compostela, Spain. This event will bring together 33 ministers from Latin America and the Caribbean and 27 ministers from the European Union to advance an investment agenda aimed at leveraging resources to support the 2030 Agenda. This historic meeting, co-hosted by CAF and the Spanish government, will spur new investments to accelerate the green transition, digital transformation, and human development.
The EU-Latin America and Caribbean collaboration should assist us in closing some of the region’s socioeconomic gaps. For example, 200 million Latin Americans are currently impoverished, women hold only 15% of managerial jobs, and the poorest 50% own only 1% of the wealth.
This is the final train connecting Europe with Latin America and the Caribbean. A train full of possibilities, hope, and growth for the two regions that Europe, Latin America, and the Caribbean should not pass up.
