A bi-annual summit between European and Latin American leaders will take place in Madrid this week. The European Union will seek to conclude trade agreements with several countries and revive stalled negotiations with others.
Yet an alternative summit has been organised in parallel by NGOs and social activist groups. Thousands of people demonstrated against capitalism and deficit-busting austerity measure in the Spanish capital over the weekend.
Diplomats said the EU bloc would pursue a trade deal with Argentina, Brazil, Paraguay and Uruguay — the Mercosur group — despite several European countries’ concerns that this could harm their agricultural sectors. Also on the official summit agenda, to leverage investment on projects in Latin America, the European Union is expected to launch a more than 200 million euro Latin American Investment Facility.
EU-Latam summit seeks trade and investment as NGOs demonstrate