📅 17 July 2023
Brussels, Belgium
The European Commission, Inter-American Development Bank (IDB), and CAF-Development Bank of Latin America will jointly organize a Business Round Table in Brussels ahead of the EU-CELAC Summit of Heads of State and Government that will convene on 17-18 July. The EU-LAC Business Round Table will be an invitation-only, in-person, high-level event that will organize at the Berlaymont Building, the Headquarters of the European Commission.
The event will consist of an opening session, seven thematic round tables, and concluding remarks. In addition, the co-organizers will facilitate bilateral meetings alongside the program to ensure productive dialogue.
EU-LAC trade and investment context
The EU and LAC have strong trade and investment ties. The EU has concluded association, free trade, or political cooperation agreements with 27 of the 33 countries in the region and is the largest source of foreign direct investment in LAC – totaling 45% of LAC FDI inflows during 2015-2019 and 36% in 2021.
Bilateral trade between the two regions grew by 18% between 2008 and 2021. EU exports to LAC averaged € 116 billion in the last decade, 2% of its global exports, while LAC exports to the EU averaged € 98 billion in the same period, about 10% of the region’s global exports. Despite these figures, most of the recent trade growth was concentrated in the 2008-2013 period and in Mexico, Ecuador, and Peru, while other countries’ trade stagnated or fell.
Business round table objective
The EU-LAC Business Round Table will bring together political leaders, business CEOs, heads of development financing institutions, and industry associations to review the key strands of the Global Gateway Investment Agenda. Participants will explore opportunities for investments in, amongst others, renewable energy and green hydrogen, critical raw materials, decarbonization, transport infrastructure projects, 5G and last-kilometer connectivity, digitalization for public services, and sustainable finance and green bonds. The Round Tables will also feature a close look into barriers to investments and regulatory frameworks, as well as a cross-sector view from the lens of education and skills, job creation, value chains, social impact and inequalities, and vocational training.
Original Source: EU-LAC Business Round Table