Munich Personal RePEc Archive

EU Trade Relations with Latin America

Kirrane, Chris (2003): EU Trade Relations with Latin America.

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Still very divided, but taking advantage of the gradual return to democracy, Latin American governments are trying to come together to deal with globalisation. The Southern Common Market (Mercosur) appears to be the most promising of all these sub-regional groupings, as it is banking on a customs union and political cooperation inspired by the European model. The European Union offered its support and an economic and political partnership. George W. Bush has revived the Free Trade Area of the Americas (FTAA), but the US Congress remains divided on the subject, notably because of the breakthrough made by Mexico through NAFTA. Finally, the new round of the World Trade Organization (WTO), launched in Doha, could blur the outcome. In any case, the rivalry between the United States and the European Union will be at the forefront for the next few years

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