The European Union is making efforts to revitalize its relations with Latin America, and the upcoming summit between the EU and CELAC (Community of Latin American and Caribbean States) in Brussels presents a significant opportunity for both continents. The EU is seeking new trading partners in light of China’s growing influence in Latin America and lessons learned from over-reliance on Russia in the energy sector. The EU-27 is actively engaging with the countries of Latin America and the Caribbean, which constitute one of the world’s largest regions for exporting raw materials. Brussels has identified more than 100 specific investment projects, such as the Bogotá metro and electric buses in Costa Rica, to encourage European participation in the region.
However, disagreements have arisen between CELAC, a diverse group of 33 countries lacking a clear structure, and the EU regarding whether and how to address Russia’s war in Ukraine in the final summit declaration. This tension is putting strain on the first such summit in eight years, which also coincides with the beginning of the Spanish presidency of the EU.
The summit will include participation from presidents such as Luiz Inácio Lula da Silva of Brazil and Gustavo Petro of Colombia, who are preparing to announce investment programs in the region. Spain and the European Commission have already pledged substantial financial contributions, with additional announcements expected from other member states such as Sweden, the Netherlands, Finland, and Ireland.
The EU has a vested interest in Latin America, being its main investor, but it has faced challenges in maintaining its position as the third-largest trading partner behind China and the United States. To promote investment, the European Commission has identified over 100 projects in various sectors across the region.
The summit will focus on both political discussions and bilateral meetings between leaders from both continents. A business forum featuring major European companies will also be held in parallel.
The EU aims to strike a balance between pursuing its interests in Latin America’s strategic raw materials, such as lithium, and ensuring it does not appear as an extractive power. Some leaders, like Lula da Silva and Argentina’s Alberto Fernandez, have already warned against this approach, and civil society groups, including Oxfam, have criticized prioritizing private investments.
The summit will also address the stalled agreement with Mercosur and seek to initiate cooperation and association agreements with Colombia, Chile, and Mexico. The EU and Latin American leaders are working to establish a diplomatic relations body to foster a more fluid relationship and bridge gaps ahead of the next summit, potentially scheduled for 2025 in Colombia.
However, the issue of condemning Russia’s invasion of Ukraine has become a major point of contention at the summit. Some countries within CELAC, like Cuba and Venezuela, maintain strong ties with Russia, while others, like Brazil, reject the war but seek a mediating role. Negotiations on the final declaration continue, with Ukraine being a significant sticking point, and the risk of the summit concluding without a declaration looms large, potentially exposing divisions between the parties.