The European Union announced that it will invest more than 45,000 million euros in projects in Latin America and the Caribbean. (PHOTO: REUTERS/Yves Herman)
The President of the European Commission, Ursula von der Leyen, announced this Monday that the European Union will invest more than 45,000 million euros in Latin America and the Caribbean through the European Global Gateway program.
“More than 135 projects are already on the starting line, from clean hydrogen to critical raw materials, from the expansion of high-performance data cable networks to the production of the most advanced RNA vaccines,” he said at the opening of a Round Table with political and business leaders prior to the EU-CELAC summit to be held this Monday and Tuesday in Brussels.
The president of the Community Executive stressed that Europe and the Latin American and Caribbean region will have to “agree together which sectors and value chains to prioritize”, as well as the best way to promote these investments with technical support, standards and capacities.
The summit between the members of the EU and CELAC will take place between this Monday and Tuesday, in Brussels. (PHOTO: REUTERS/Yves Herman)
Von der Leyen insisted that the Global Gateway program “not only has the size to make a difference”, but that it represents a “new approach” when it comes to investing in large infrastructure projects since European investments will focus on ” create local value chains” so that the “added value stays in Latin America and the Caribbean”.
The Commission President cited clean hydrogen and the industry of critical raw materials as examples of areas with investment potential in which the EU and the Latin American and Caribbean region have “a common interest and shared ideas”.
The European Union aspires to consolidate its rapprochement with the Community of Latin American and Caribbean States (CELAC) despite differences over the Russian invasion of Ukraine threatening to cloud the first summit of leaders from both regions since 2015.
The appointment this Monday and Tuesday in Brussels is called to culminate what in the community capital they call the “year of Latin America”, with the launch of a clearer economic and political agenda for the region and the recent trips of the president of the European Council , Charles Michel, and the President of the European Commission, Ursula von der Leyen.
The European Union approaches Latin America amid differences over Russia’s invasion of Ukraine. (PHOTO: AP/FILE)
The objective is to put an end to the disconnection with the region and for European and Latin American leaders to commit to holding summits of the highest level every two years, with the idea that the format becomes the usual one in the interaction between the two continents. “It must be part of the DNA on both shores of the Atlantic”, summed up a senior EU official, after the EU High Representative for Foreign Policy, Josep Borrell, warned just a few weeks ago that Europe had “neglected” the relations with Latin America in recent years.
To this end, a dialogue mechanism between officials and foreign ministers will be launched to evaluate relations and establish a roadmap that, in the end, facilitates the commitment to hold biannual leaders’ summits.
(With information from EFE)
Keep reading:
Ukraine recovered more than 200 square kilometers throughout its territory since the start of the counter-offensive against Russia The European Union and Tunisia announced an agreement to fight irregular immigration The United States will ask China to redouble its efforts to reduce global warming
2023-07-17 08:51:14
#European #Union #announced #invest #million #euros #projects #Latin #America #Caribbean
