July 2, 2023, 4:55 AM
July 2, 2023, 4:55 AM
Physical distance does not mean remoteness. Although we are 10,000 kilometers away, in Bolivia we not only speak a European language and the majority of Bolivians profess a religion that relates us, in values, to the old continent. Bolivia is multicultural, as is Europe.
Cooperation between the European Union (EU) and Latin America has become a fundamental pillar for economic development, democratic strengthening and the promotion of human rights in the region. A prominent example of this fruitful collaboration is found in Bolivia, where the EU’s technical and economic cooperation has had a significant impact.
The EU is Latin America’s second largest trading partner, after the United States, and the main foreign direct investor in the region. In 2019, European investments in Latin America reached 385.7 billion euros, representing approximately 43% of total foreign direct investment in the region.
EU Trade Commissioner Valdis Dombrovskis, on a recent visit to Bolivia, highlighted the EU’s commitment to strengthening cooperation with Latin America, stating: “Latin America is a strategic partner for us. We recognize its potential and value our commercial and economic relations”. These words reflect the importance that the EU attaches to collaboration with Latin America and the relevance of Bolivia in that context.
In recent years, bilateral trade between Bolivia and the EU has experienced remarkable growth. In 2020, Bolivian exports to the EU reached 920 million euros, while imports from the EU amounted to 971 million euros. These figures reflect a balanced commercial flow and a solid commercial relationship between both parties.
Bolivia has found a key trading partner in the EU, diversifying its exports and strengthening its economy. Emblematic products such as coffee, tin, quinoa and Bolivian textile products have been in constant demand in the EU member countries. This mutually beneficial trade has fueled economic growth and job creation in Bolivia.
But cooperation between the EU and Bolivia is not limited to the economic sphere. The EU has also provided financial and technical support to promote sustainable development and democratic strengthening in Bolivia. In the period 2014-2020, Bolivia received close to 236 million euros in assistance from the EU, earmarked for projects in areas such as education, health, infrastructure and environmental protection. These programs have contributed to reducing poverty, improving the quality of life of the population, and strengthening democratic institutions in the country.
This collaboration is not limited to Bolivia, but extends to the entire Latin American region. The EU has worked closely with countries such as Argentina, Brazil, Chile, Colombia, Mexico, Peru and Uruguay, among others, promoting fair trade, sustainable investment and regional integration. These joint efforts have boosted economic growth and cooperation in key areas for sustainable development in Latin America.
Looking to the future, the EU and Latin America work together on issues of global interest, such as climate change, the fight against poverty, migration, security and global governance. Cooperation on these issues makes it possible to address common challenges and strengthen the position of both regions in the international arena.
