IP/09/1385 Brussels, 30 September 2009 Commission lays out a new vision for EU-Latin America relations Today the Commission will present a renewed policy designed to strengthen the EU-Latin America strategic partnership. With its Communication « EU-Latin America: Global Players in Partnership » the Commission assesses the state of play of the bi-regional relationship and outlines the targets and objectives for the coming years. In view of the next EU-Latin America/Caribbean Summit to be held in Spain in spring 2010, it identifies and provides new orientations and policy recommendations to tackle challenges affecting both regions, such as climate change, the economic and financial crisis, energy security, and migration. Furthermore, the Communication proposes the setting up of the Latin America Investment Facility (LAIF) which would have a leverage effect to mobilise resources from financial institutions to finance projects in energy infrastructure, including energy efficiency and renewable energy systems, transport, environment and social cohesion. Commissioner for External Relations and European Neighbourhood Policy, Benita Ferrero-Waldner, commented : “ This Communication is another visible and tangible step towards the strengthening of our already well-established and flourishing relationship. It is testimony of the significance of both the European Union and Latin America as important actors on the global scene particularly in facing the challenges like the financial and economic crisis, climate change, migration. By working together better we directly contribute to peace and stability in the region and to its further development by increasing social cohesion, improving democratic governance and deepening regional integration. To this effect, the new Investment Facility will allow for wider investments particularly on infrastructure and thus create new jobs and enhance economic development in the region. I am pleased that today we are sending a clear sign of our commitment to our Strategic Partnership with the region and I look forward to a successful EU- Latin America and Caribbean Summit in Spain next year. “ Background: In 1999, at their meeting in Rio de Janeiro the Heads of State and Government of the EU and Latin American and Caribbean (LAC) countries established a Strategic Partnership between both regions. Today's Communication which is based on the experience gathered over the past ten years makes a series of concrete policy recommendations for strengthening our relations with Latin America in the framework of the EU-LAC Strategic partnership. It contains four main policy orientations for the future: Stepping up and focusing bi-regional dialogue Step up political dialogue on priority areas related to global challenges, such as macro-economic and financial issues, security and human rights, employment and social affairs, environment, climate change, energy, higher education and technology/innovation. Develop and strengthen the EU-LAC Co-ordination and Co-operation Mechanism on Drugs and pursue the ongoing Structured and Comprehensive Dialogue on Migration in an open and constructive way, in line with the EU Global Approach to Migration. Strengthening regional integration and inter-connectivity Pursue on going negotiations (Central America, Andean Countries and Mercosur) and support integration efforts within the region. Take a bottom-up approach to support regional integration by strengthening inter-connectivity. Strengthening bilateral relations andtaking greater account of diversity: Take full advantage of existing Strategic Partnerships (Brazil and Mexico), existing Association Agreements (Chile and Mexico) and bilateral cooperation agreements. Strengthen bilateral relations with individual countries to complement EU support for regional groupings. Tailoring and adapting Cooperation Programmes Design cooperation programmes with Latin America to generate low-carbon, sustainable growth, employment and better income distribution and to mitigate the effects of the economic and financial crisis. Use the ongoing Review of cooperation programs to explore greater diversification in instruments and adapt Commission cooperation work to different needs, namely: continue focusing financial resources under the Development Cooperation Instrument on the poorest countries and the needs of the most vulnerable groups; improve cooperation, especially on social cohesion and regional integration, by targeting programmes on emerging needs; look for stronger cooperation in knowledge and innovation-related areas such as research/higher education, science, technology, and renewable energy; mainstream climate change considerations, both on mitigation and adaptation, in our development and cooperation programmes, including the fight against deforestation; develop new forms of cooperation within the framework of the Industrialised Countries Instrument+ (ICI+) with more developed countries in the region. In the framework of a renewed EUROsociAL programme, explore opportunities for institutional partnerships (ie on basis of experience of programs such as twinning) and triangular cooperation. Increase cooperation in the field of justice, freedom and security. A new tool to promote interconnectivity, regional integration and social cohesion: The Latin America Investment Facility (LAIF) LAIF is a new financial instrument, which will mobilise resources from financial institutions to finance investment projects in energy infrastructure, including energy efficiency and renewable energy systems, transport, environment and social cohesion. LAIF will be inspired on the experience and lessons learnt from the NIF 1 instrument used for the neighboring countries. Recommendations in view of the upcoming EU-LAC Summit, May 2010: Ensure that the Summit takes into account the impact of the crisis, in particular, on employment and social issues, and yields viable results. Launch the Latin America Investment Facility (LAIF). Step up dialogue and cooperation between both regions in the field of low carbon and green technologies and innovation with concrete action, including boosting institutional capacity for S&T cooperation in the region. Mark the creation of the EU-LAC Foundation. Encourage cooperation on issues of common concern between Latin America and the Caribbean. For more information: The EU's relations with Latin America: - http://ec.europa.eu/external_relations/la/index_en.htm - MEMO/09/426 1 : According to available info, in 2008 the NIF € 71 million of grants underpinned projects worth around € 2.7 billion