{"id":122094,"date":"2019-09-22T00:00:50","date_gmt":"2019-09-22T05:00:50","guid":{"rendered":"https:\/\/selasite.azurewebsites.net\/?post_type=agenda&p=122094"},"modified":"2024-02-16T13:20:17","modified_gmt":"2024-02-16T18:20:17","slug":"eurasian-economic-union-and-latin-america-and-the-caribbean-cooperation-for-greater-regional-integration","status":"publish","type":"agenda","link":"https:\/\/rmtsolutions.net\/sela\/en\/agenda\/eurasian-economic-union-and-latin-america-and-the-caribbean-cooperation-for-greater-regional-integration\/","title":{"rendered":"Eurasian Economic Union and Latin America and the Caribbean: cooperation for greater regional integration"},"content":{"rendered":"
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\n \n Introduction <\/span>\n <\/div>\n
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Following the signing of the Memorandum of Understanding by the Permanent Secretary of the Latin American and Caribbean Economic System (SELA), Ambassador Javier Paulinich, and then Minister in charge of Integration and Macroeconomics of the Eurasian Economic Union (EAEU), Ms. Tatiana Valovaya, in order to promote inter-institutional cooperation between both regions, the Seminar \u00abEurasian Economic Union and Latin America and the Caribbean: Cooperation for greater regional integration\u00bb will be held. This event is being organized by the Permanent Secretariat of the Latin American and Caribbean Economic System (SELA), together with the Government of the Republic of Guatemala through the Ministry of Economy (MINECO), the Eurasian Economic Union (EAEU) through the Eurasian Economic Commission (EEC), the Embassy of the Russian Federation in Guatemala and the Central American Economic Integration Secretariat (SIECA), and will be held in Antigua, Guatemala, on 23 and 24 September of this year.<\/p>\n

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The main objective of this seminar is to identify opportunities and challenges for strengthening relations between Latin America and the Caribbean and the Eurasian region. For this purpose we have invited a diversity of experts and speakers from multilateral organizations, private companies, government representatives and academics to participate during two days of work sessions where we will proceed to: i)\u00a0evaluate a cooperation agenda in the field of regional integration between the governments of the EAEU and Latin America and the Caribbean; ii) analyze opportunities for the formation of trade and cooperation agreements between the business community of the EAEU countries and the countries of Latin America and the Caribbean; iii) identify areas for cooperation in the field of regional economic integration among the governments of the countries of the EAEU and of Latin America and the Caribbean; iv) propose the creation of a monitoring group for economic relations between the countries that make up the EAEU and those of Latin America and the Caribbean, which monitors and promotes the formation of alliances between SMEs in both regions; and, v) present the opportunities to forge business and cooperation agreements between the MSMEs of the EAEU and those of Latin America and the Caribbean.<\/p>\n <\/div>\n <\/div>\n\n\n

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\n \n Background and justification <\/span>\n <\/div>\n
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On 24 May 2018, the Permanent Secretariat of the Latin American and Caribbean Economic System (SELA), Ambassador Javier Paulinich, and the Minister for Integration and Macroeconomics of the Eurasian Economic Union (EEU), Ms. Tatiana Valovaya, signed a Memorandum of Understanding in order to promote inter-institutional cooperation between the two regions. This document was signed during the Intercontinental Dialogue on Economic Cooperation between the EEU and countries of Latin America and the Caribbean, held at the headquarters of the Eurasian Economic Commission (EEC) with the participation of Latin American ambassadors accredited to Russia.<\/p>\n

It should be noted that the EEU is a supranational organization of the economic area of Eurasia, comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.<\/p>\n

The main objective of the EEU is to develop a single market through the free movement of goods, capital, services and persons. The EEU is seen as an energy power. In 2018, it produced 20.2% of natural gas and 14.5% of oil and natural gas condensate in the world, with the bloc being the largest global producer of these raw materials. The EEU also produces 4.9% of the world\u2019s electrical energy and 6.9% of carbon, which makes it the third and fourth world producer, respectively. In Kazakhstan, energy is the main economic sector. The country has about 4 billion tons of proven recoverable oil reserves and 2 thousand cubic kilometres of gas reserves. Kazakhstan is the 17th largest exporter of oil in the world and the 23rd exporter of natural gas. Russia has the largest reserves of natural gas in the world.<\/p>\n

In this connection, there is a large space for improving cooperation relations between Latin America and the Caribbean and the EEU, as well as for enhancing trade relations and incentives between both regions, because they contain valuable know-how in the production and exploitation of natural resources and thus can draw on the best practices and promote the exchange of technology.<\/p>\n

The Memorandum of Understanding between SELA and the CEE was signed on the basis of the competitive advantages and similarities of each region. The document is based on issues of regional integration and inclusive economic growth. The agreement reinforced the desire to share best practices on economic integration, intra-regional trade, development of labour market, growth of competitiveness, improvement of regulatory framework, consumer protection and development of a methodology to assess the progress of regional integration processes. It should be noted in particular that that this Memorandum contributes to the achievement of the Sustainable Development Goals (Transforming our world: The 2030 Agenda for Sustainable Development), adopted by Resolution 70\/1\u00a0 of the United Nations General Assembly, adopted on 25 September 2015.<\/p>\n

The EEU and SELA recognized the potential of an alliance between them to leverage inter-regional trade in goods and services. In order to move towards the development of such potential and the materialization of such mutually convenient alliance, SELA included in its Work Programme for the year 2019 a space aimed at strengthening cooperation ties to promote the best opportunities in both regions.<\/p>\n <\/div>\n <\/div>\n\n\n

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\n \n Objectives <\/span>\n <\/div>\n
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