Latin America-Europe Cooperation Suffers Crisis Effects, says SELA
23 de octubre de 2012

The economic relations and cooperation between Europe and the Latin American and Caribbean region have suffered the effects of the international crisis and, essentially the European, as evidenced in a report of the Latin American and Caribbean Economic System (SELA).

Published by Prensa Latina, via Google News

Caracas, October 23 (PL)- The economic relations and cooperation between Europe and the Latin American and Caribbean region have suffered the effects of the international crisis and, essentially the European, as evidenced in a report of the Latin American and Caribbean Economic System (SELA).

The report The Eurozone Crisis and its Impact on the Process of European Integration and in the biregional relations Latin America and Caribbean and European Union, was presented by the SELA´s Permanent Secretariat in its 38th ministerial meeting, which takes place in this capital.

According to the text, one of the consequences of the crisis is the significant drop in remittances coming from Europe since 2008, considering that Spain, a country facing a serious economic situation, plays an important role in this regard.

At another point it stressed that the direct trade effects of the European crisis on Latin American economies are not relevant, given that the relative weight of the trade in the region with the old continent, as a whole, is around 14 percent of its total trade.

The SELA stressed the interest of Latin America and the Caribbean to promote approaches and partnerships of European firms and Multi-Latins, increasingly present in the old continent, and to encourage investment for sustainable development.

This, he announced, will be a topic to be discussed at the First Summit of the Community of Latin American and Caribbean States to be held in Santiago de Chile, on January 27 and 28, 2013.