The European Union, Latin America, and the Caribbean Foundation (EU-LAC) has announced that it will be holding its biennial summit in Santiago on January 25 and 26, 2013.
This prestigious conference will unite a group of 300 international business leaders and politicians with the goal of generating mutually beneficial business relations between Latin American and Caribbean countries (LAC) and the European Union (EU). The summit will include 33 LAC nations as well as 27 states from the EU.
The summit aims to foster a healthy environment for direct foreign investment (DFI) in sustainable ways in LAC countries, in order to “overcome the challenges of development, growth and the eradication of poverty,” according to event organizers.
At a time when “the economic and financial situation contains a certain degree of uncertainty in Europe,” according to organizers, it’s more important than ever for the EU to develop these types of international financial ties.
The EU provides the most important source of DFI to the Latin America and Caribbean region, or 43 percent of the region’s total foreign investment. Investments, however, have been on the decline since 2008 making the ULAC-EU Summit even more pertinent.
Issues addressed at previous summits include commercial relations, the creation and growth of employment opportunities, strengthening competition, boosting education, research and technology, and long term energy and environmental strategies.
In previous years, a “Business Declaration” was crafted over the course of the summit that listed conclusions and recommendations developed during the conference. The document was then presented to the heads of state of all involved countries.
The summit is being organized by some of Chile’s top business leaders from companies like Concha y Toro vineyard, Citroën Chile, Falabella, and Antofagasta Minerals.
January’s event will be the fourth of its kind and the second in Latin America. The previous summits were held in Vienna, Lima, and Madrid.