EU Calls for More Security for their Investments

Europe wants a more ambitious agreement with Latin America to ensure the protection of investments in the region.

Thursday, April 11, 2013

"The European Union would like to have "more ambitious" protection of foreign investment in Latin America as expressed in the last summit meeting with the Community of Latin American and Caribbean States (CELAC), said the EU representative in Uruguay, the Spaniard Juan Fernández Trigo ", noted an article in Economía.elpaís.com.

"The EU wants to ensure that when investing in the region, there are no surprises or scares," he said, lamenting that this issue did not have "a greater emphasis" in the EU-summit CELAC held last January in Santiago de Chile.

The diplomat said that trade between the two regions is becoming "more intense" and that the bloc is "interested" in achieving a trade agreement with the Southern Common Market (Mercosur) because of its "importance" and the "import volume " implied. "Latin America can not be left out of the free flow of business processes in the world," he added.

For his part, Director of Foreign Policy at the Ministry of Foreign Affairs in Chile, Adolfo Carafí, which provided the Latin American viewpoint at the summit in his country, remarked that one of the main agreements they reached was "to encourage greater investment social and environmental quality. " "Not every investment is welcome, this investment should promote social and environmental quality," he said.



More on this topic

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International bureaucrats are touring Central America offering up the ALADI as a means of doing business with South American countries, while the president of Argentina is preventing firms in her country from using ports in Uruguay.

Editorial

Our comments are the same as they were one year ago when Uruguayan diplomats toured the area in order to promote a free trade agreement with Mercosur; in terms of trade integration, South America is a bag of cats where what prevails is the will of two giants, Brazil and Argentina, with the aggravating circumstance that the current government of President Fernández de Kirchner, in the exact same manner as his deceased predecessor Néstor Kirchner, manages and controls Argentinian international trade by pandering to the needs of immediate populist policies, regardless of the agreements they have signed.

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President Otto Perez Molina reported on Sunday in Santiago de Chile that Guatemala was unanimously accepted as an observer of the Pacific Alliance, a bloc of countries that promote trade and investment for development.

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Guatemala's Foreign Minister Haroldo Rodas said that, at the Central American summit on May 29 in El Salvador, he intends to press for a commercial agreement with the South American common market, Mercosur.

Rodas said that President Alvaro Colom and the Brazilian leader Luiz Inacio Lula da Silva recently agreed to kick-start the stalled trade talks between Central America and Mercosur.

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