Trade booster: Latin America, Europe open summit
CELAC groups all American nations except the United States and Canada.
SANTIAGO:
Latin American and European leaders open a two-day summit here Saturday to give a fresh impetus to efforts to seal a free trade agreement between their two blocs.
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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Latin American and European leaders open a two-day summit here Saturday to give a fresh impetus to efforts to seal a free trade agreement between their two blocs.
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.
Like Business on Facebook to stay informed and join in the conversation.