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INVESTING IN LATIN AMERICA’S BOOM
CAN ITS “JAGUARS” CATCH UP WITH ASIA’S “TIGERS”?

SPRING 2011

Media Partner

InvestIng In LatIn amerIca’s boom can Its “jaguars” catch up wIth asIa’s “tIgers”?
report of the one day policy summit on eu-Latin america relations organised within the aL-Invest Iv programme¹ co-organised by Friends of Europe and eurochambres

with media partner europe’sworld

spring 2011 bibliothèque solvay, brussels

¹ The AL-INVEST IV Programme, financed by the EU, is a European Commission initiative which aims to support the internationalisation of Latin American SMEs, in collaboration with European business organisations, in order to reinforce social cohesion in the region. The AL-INVEST IV Coordination and Services Consortium led by EUROCHAMBRES providesthe Latin American partners with technical and horizontal services.

this document has been produced with the financial assistance of the european union. the contents of this document can under no circumstances be regarded as reflecting the position of the european union. the views expressed in this report are the private views of individuals and are not necessarily the views of theorganizations they represent, nor of eurochambres or Friends of Europe, its board of trustees, members and partners. reproduction in whole or in part is permitted, provided that full credit is given to eurochambres and Friends of Europe, and provided that any such reproduction, whether in whole or in part, is not sold unless incorporated in other works.

Rapporteur: mike scott Publisher: geert camiProject Director: nathalie Furrer Project Executive: maximilian rech Photographer: Fred remouchamps Design & Layout: Kramik

this report is printed on sustainably produced paper

table of contents
executIve summary green Investment, busIness opportunItIes For LatIn amerIca and the eu
sustainable innovation 4

6 7

gearIng up eu-LatIn amerIca trade reLatIons
no time for complacency challengesand opportunities

9 11 15

IdentIFyIng eu-LatIn amerIcan Investment opportunItIes
regional integration sticking point Is the eu relevant?

18 21 24 27

FosterIng a cLImate For europe’s and LatIn amerIca’s smes 30
sme challenge common problems, different starting points much to be done 33 34 37 39 42

annex I - programme annex II - List of participants

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Investing in LatinAmerica’s boom: Can its ‘jaguars’ catch up with Asia’s ‘tigers’?: Spring 2011

ExEcutivE Summary
While the world’s attention is focused on events in the Middle East, North Africa and Japan, and the wider trend of strong growth in Asian countries such as China and India, another region is quietly getting on with its own astonishing success story. Latin America’s “jaguars” were the subject of aone-day Policy Summit on EU-Latin America relations, held in Brussels on Tuesday, 15 March 2011, organised within the framework of the AL-Invest IV Programme and co-organised by Friends of Europe and EUROCHAMBRES. The Summit’s debates suggested that rich economic rewards and new businesses opportunities await European businesses that engage in the fast growing Latin American marketplace while similaropportunities exist for Latin American business in Europe. The two regions have a strong relationship as a result of a shared history, culture and languages, as well as their commitments to democracy and the rule of law. However, there are concerns in both Europe and Latin America about the newly assertive role that China is playing in the region. Although Europe has concluded a number of tradeagreements with Latin American countries recently and is working on a link with Mercosur, the EU cannot take its links with Latin America for granted in the face of competition from China. The slow progress of the EU’s negotiations and then implementation of trade agreements has been shown up by the speed and nimbleness of China’s activities. Europe’s preoccupation with agriculture is a perennial...