European EPA ‘not enough’
There is an Economic Partnership Agreement already in place between them but there is a need for greater economic ties between Europe and the Caribbean.
That’s the view of Economic Commission for Latin America and the Caribbean executive secretary Alicia Bárcena, who told a recent meeting in Paris that there were opportunities for such enhanced links.
The United Nations official pointed out that since the 2008 world financial crisis “the problems that the Euro zone has had to face have led to stagnation in the relationship” between Europe and Latin America and the Caribbean.
But she noted that despite this the European Union “continues to be the main collaborator, the main direct investor and the second-biggest trade partner of Latin America and the Caribbean”.
“For that reason, it is necessary to foster renewed ties between the governments, companies and social actors of both regions,” she suggested.
Bárcena said a deeper partnership between Latin America and the Caribbean and Europe would allow for accelerated economic growth in the region, progress on the structural change towards more knowledge-intensive sectors, poverty reduction, and greater social inclusion and environmental protection.
The official said despite recent progress, Latin America and the Caribbean “continues to be the region with the worst income distribution in the world, which is compounded by multiple gaps that reinforce each other, including gaps in human resource development, in insertion in the world of work and in access to social protection systems, as well as gaps related to territory, gender, ethnic group and generations, and in access to power. (SC)