Economic and Trade Relations between Latin America and the Caribbean, and the European Union

The purpose of this article is to analyze the economic and trade relations between Latin America and the Caribbean (LAC) and the European Union (EU). It is divided into four sections. In the first, the author examines the post-war evolution of the biregional relationship. In the second, he analyzes how different world events such as the end of the Cold War or the dissipation of the import substitution system in Latin America, contributed to economic liberalization and the growth of political interdependence, factors that influenced a rapprochement between LAC and the EU and facilitated the institutionalization of biregional dialogue in the nineties. The challenges imposed by the globalized and regionalized world on the LAC-EU relationship are also examined. In the third section, Armendáriz analyzes the economic, financial and trade trends that, in each of the regions, make it possible to deepen interregional, economic cooperation relations. Lastly, in the fourth section, the author reflects on some factors that significantly affect the economic connection between the two regions, such as the position of the United States and of the EU with respect to LAC, as well as the importance of LAC and the EU fortifying their monetary and financial dialogue.