Reforming EU-LAC Trade Partnerships: How Crisis Have Redefined the Instruments for interregional trade

ZELICOVICH, JULIETA

Conferencia; Multilateralism, democracy and EU-LAC relations in times of permacrisis; 2023

Institute of International Relations (IRI/PUC-Rio) & Jean Monnet Network Crisis-Equity-Democracy for Europe and LAC

Over the past decade, the interregional trade landscape between the European Union (EU) and Latin America has undergone profound transformations, catalysed by significant global developments and regional crises. This paper examines how the repercussions of complex processes, such as the Euro Crisis, the rise of China as an economic powerhouse, the impact of pandemics, climate change and the reconfiguration of the geopolitical order have shaped the dynamics of trade relations between these regions. As economic crises and geopolitical shifts posed challenges, both the EU and Latin America sought to adapt their governance tools to address emerging complexities effectively. This study delves into the evolution of trade and trade governance, scrutinizing data to identify trends and changes during the period. Moreover, the paper analyses the processes of negotiation of 'traditional' trade agreements, such as the revision of Free Trade Agreements between the EU and Chile and EU and Mexico, as well as the negotiations among EU and Mercosur. Additionally, it examines the emergence of 'new' tools, including the European Global Gateway Initiative's impact and the signing of Memorandums of Understanding in key sectors, such as lithium and energy. Ultimately, this research sheds light on the multifaceted interactions that have reshaped the EU-Latin America trade landscape, highlighting the need for responsive and adaptive governance mechanisms to navigate the evolving international order effectively.