The Latin American market is becoming very important for actors such as Russia or China, you need it for your project New Silk Road.
LATAM Gateway to the EU
But in the case of Spain, its sociocultural, historical and linguistic ties have been the basis of reciprocity in relations since ancient times.
As some analysts say, in addition, “we are the gateway for Latin America into the European Union.”
In fact, Spain has signed eighteen trade agreements with many Latin American countries, which has positioned it as the EU Member State with the most agreements signed with Latin America.
Spain-LATAM Agreements
Among these, the Agreements for the Promotion and Reciprocal Protection of Investments (APPRI), and Agreements to Avoid International Double Taxation, based on the Preferential Economic Agreement between the Spanish State and the European Communities, and the Rio Summit in 1999, which promoted economic cooperation, trade liberalization and the consolidation of bilateral relations between both regions.
Main Buyers of Spanish Goods and Services
The The main purchasing countries of Spanish goods and services are Mexico, Brazil and Venezuela..
However, with the latter, relations have deteriorated since 2013, when Maduro became the new President of the Republic and his radical speech alienated our country.
Still, and despite the environment of political, economic and social instability, Spain offered to guarantee a prosperous, stable and peaceful Venezuela.
However, both Maduro and his Prime Minister Elías Jaua rejected it forcefully, ensuring that the presence of this State has never been required for mediation.
Spain-Venezuela
Although the harshness of Nicolás Maduro does not only affect Spain, our country saw it necessary to articulate an appropriate policy for Venezuela with the objective that its situation does not compromise Spanish interests, but always taking into account three fundamental pillars: democracy, fundamental rights, and citizen freedoms.
Spain occupies a secondary place as a destination for Venezuelan exports, just as sales from Spain have hardly any relevance for the Latin American country; However, they remain trading partners and the former has been involved in cooperation for the development of this country.
Spain-LATAM 2024
In 2024, Spain maintains strong ties with Latin America, acting as a bridge between Europe and Latin America.
This is reflected in its leadership in signing trade agreements, including investment promotion treaties and tax agreements, positioning it as the EU Member State with the most agreements with the region.
Furthermore, Spain has intensified its political cooperation through the Community of Latin American and Caribbean States (CELAC), and remains an active defender of democracy and human rights in the region.
This strengthening of ties is crucial to counteract the growing influence of China and Russia in Latin America, thus reinforcing the importance of Spanish-Latin American cooperation in the global context (Wilson Center) (Elcano Royal Institute).
In collaboration with Mar Gamez
Graduated in International Relations at Loyola University, debater, and multilingual! I speak English, French, and here I go with the fourth language! I am passionate about the field of Security and Defense, and here I am to talk about international issues that concern us all. Do you read me?
