European Union and Latin America. Process of convergences and divergences

Abstract

The article deals with the matter of cooperation between European Union (EU) and Latin America. The author yearns to prove that there are divergences and convergences inside the modern transcontinental dialogue. In the last years certain retreat from the interregional economic association took place. Such a situation was sparked by a number of reasons: Brexit, crisis in Venezuela, unsteady row material's international prices and economic shrinking due to the COVID-19's crippling impact on both sides of the Atlantic. The COVID-19 gave away the foibles and flaws in the Latin American regional projects. The recession of 2020 clamped down on the interregional trade and deepened structural troubles inside the integration efforts. The disparity in the trade links between the two regions and in the matter of investments thwarts a lot the steps which aim at building up a staunch strategic alliance EU-Latin America. The author comes round to thinking that nowadays the EU finds itself in a transition stage as for the interregional cooperation and seeks a new kind of leadership in Latin America under harsh conditions of a growing competition from the United States and China. © 2022. Iberoamerica (Russian Federation). All Rights Reserved.