Ursula von der Leyen, President of the European Union (EU) Commission, stated that it is planned to invest over 45 billion euros in the Community of Latin American and Caribbean States (CELAC).
Speaking at the EU-Latin American and Caribbean Countries Summit, von der Leyen stated that they have allocated an investment package exceeding 45 billion euros in total to Latin American and Caribbean countries within the scope of the EU’s project called “Global Gateway”.
In his speech, von der Leyen said, “I am pleased to launch our investment agenda for Latin America and the Caribbean today. Under the banner of the Global Gateway, we propose to bring over 45 billion euros of high-quality European investment to Latin America and the Caribbean.” used the phrase.
“More than 135 projects are already on track, from clean hydrogen to critical raw materials, from high-performance data cable network to the production of the most advanced mRNA vaccines,” said EU Commission President von der Layen. said.
Underlining that the relationship between Latin America and the European continents is extremely deep, von der Leyen stated that the total trade volume between the EU and CELAC countries has increased by approximately 40 percent in the last 4 years.
Voicing that the EU aims to develop its commercial ties with the CELAC countries, von der Leyen said, “We are close not only to finalizing some historical trade agreements, but also to modernizing the agreements we already have. We have settled this with Chile (trade agreement). We will sign it tomorrow. With Argentina. “We agreed. We signed. We are looking forward to Mexico as well.” He used his expressions.
Argentine President Alberto Fernandez noted that it is extremely important to develop the trade and investment relationship between the EU and Latin American countries in a way that will serve the interests of both sides.
Noting that his country is facing a debt crisis, Fernandez said, “Our country has not undergone any debt restructuring that could allow us to truly guarantee the future and hope. This is something that also affects many of our neighboring countries; Latin America and the Caribbean are the most indebted regions in the world.” made its assessment.
“We need to have a union where both sides benefit from the agreement. If only one of the parties benefits, then it clearly does not serve the purpose,” said Argentina’s President Fernandez. made his comment.
CELAC Term President St. Vincent and the Grenadines Prime Minister Ralph Gonsalves reminded that Ukraine is not the only war and conflict region where people lost their lives, “The people of Haiti, the Palestinians, the population in various parts of Africa, the Middle East and Asia have more pressing problems.” used his statements.
European Council President Charles Michel pointed out the importance of acting together against the war in Ukraine and said, “Why shouldn’t we let Russia succeed? Because that would be a recipe for disaster against the multilateral rules-based system.” said.
Noting that they aim to improve the existing financial system and make it more equitable, Michel called on CELAC countries to work collaboratively to build a new global financing system that will bridge the gap between the rich and the poor.
EU and CELAC represent a population of over 1 billion
A summit is held in Brussels with the aim of increasing trade and investments between the EU and Latin American and Caribbean countries.
The two-day summit, which will continue tomorrow, will be attended by the President of the European Council Charles Michel, the CELAC Term President St. Vincent and the Grenadines Prime Minister Ralph Gonsalves is chaired by 60 leaders and government representatives representing EU member states and Latin American and Caribbean countries.
Within the scope of the summit, views will be exchanged between 27 EU member states, 33 Latin American and Caribbean countries on a number of target titles such as improving mutual relations, ensuring global peace and stability, increasing trade and investments, supporting economic development, and combating climate change.
In addition, the summit will focus on improving the existing financial infrastructure, supporting research and innovation, and increasing cooperation between the CELAC countries to meet the justice and security needs of the people.
The total trade volume of EU-CELAC countries is 369 billion euros.
CELAC countries have a total share of 21 percent in the world economy with a population of over 1 billion, with 600 million EU countries and 450 million from EU countries.
CELAC countries, which have a share of more than 60 percent renewable energy in their total energy production, are home to more than 50 percent of the world’s biodiversity.
CELAC countries also realize 14 percent of world food production and have a 45 percent share in international agricultural product trade.
Total trade in products and services between the EU and CELAC countries increased by 39 percent from 2013 to 2021, reaching a total of 369 billion euros.
EU investments in CELAC countries increased by 45 percent in the same period, reaching a total of 693 billion euros.