Attending the gathering are some 45 leaders, including German Chancellor Angela Merkel, Spanish Prime Minister Mariano Rajoy, Brazilian President Dilma Rousseff, Cuban leader Raul Castro.
Although the two blocs have met seven times, it is the 27-member EU’s first summit with the Community of Latin American and Caribbean States (CELAC, its Spanish-language acronym). Set up in Caracas in December 2011, CELAC groups all American nations except the United States and Canada and aims to boost regional trade and institutional cooperation.
The EU is the biggest outside investor in Latin America, with 3% of the direct foreign investment in CELAC or $385 billion in 2010.
Published in The Express Tribune, January 27th, 2013.
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Our Foreign Policy/Foreign Affairs on expansion towards the new blocks formed in which we could not participate. As BRIC, APEC, CELAC region. India is very much an important part of BRIC with Russia, China, and Brazil. Our Foreign Office should assist the Commerce Ministry in relationship and mission offices in the new markets.