CELAC-EU summit focuses on boosting investments in LatAm and Caribbean nations
On January 27, the first Community of Latin American and Caribbean States (CELAC) summit concluded with leaders from CELAC and the European Union signing the Declaration of Santiago, laying out a two-year action plan for cooperation in shared concerns such as education, scientific research, and climate change, as well as reaffirming trade agreements between the respective organizations’ member states.
Leaders from both Europe and LatAm and the Caribbean affirmed their commitment to encouraging free trade, signalling a shared resolve to promote foreign direct investment. Herman Van Rompuy, President of the European Council, said, “Latin America is a key trading partner for the EU and visa-versa and the same is true for foreign direct investment."
The second CELAC-EU summit is slated for 2015 in Brussels. In the meantime, according to European Council president Herman Van Ronpuy, “a lot of work will be done in translating our words into active results.”