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EU interested in promoting open and free trade Latin America, Lithuanian President says

Dalia Grybauskaitė
Juliaus Kalinsko / 15min nuotr. / Dalia Grybauskaitė
Šaltinis: BNS

The European Union is interested in promoting an open and free trade with the Latin American region, Lithuanian President Dalia Grybauskaitė has said after meeting with representatives of the Executive Bureau of the Euro-Latin American Parliamentary Assembly (EUROLAT).

President Grybauskaitė underlined that Latin America includes some of the fastest-growing economies in the world. The volume of EU trade with Latin America is expanding continually.

The European Union is also the largest foreign investor in the region. Its total investments amount to EUR 400 billion, accounting for almost half of all foreign investment in Latin American countries.

According to the Lithuanian president, negotiations on free trade agreements with the EU's strategic partners, including Mercosur countries - Argentina, Brazil, Bolivia, Paraguay, Uruguay, and Venezuela - are on the Lithuanian EU presidency agenda.

The Lithuanian president and the representatives of the EUROLAT discussed the EU-Latin American strategic partnership, economic cooperation, development cooperation, environmental issues, climate change, and international migration, the Press Service of the President said.

Vilnius is hosting meetings of EUROLAT committees, attended by 150 members of the European Parliament and Latin-American lawmakers. This is the first EUROLAT event held in Lithuania.

The strategic partnership between the European Union and Latin American and Caribbean countries was formed in 1999. Three years ago, a comprehensive action plan was approved at the Madrid Summit, which set forth the guidelines for advancing EU-Latin American relations. It placed special focus on sustainable economic and social development, democratic principles, women's rights, education, research, climate change, and migration.

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