es flag go to the original language article
This article has been translated by Artificial Intelligence (AI). The news agency is not responsible for the content of the translated article. The original was published by EFE.

Latin America arouses a lot of investor interest from the EU, but must streamline its bureaucracy, Síkela tells EFE

by AI | 30.Mar 2025 | Europe in brief AI

The community block has set out to mobilize 45 billion euros by 2027 to finance regional projects in priority areas such as infrastructure and connectivity, the green transition, or health.

The Commissioner for International Associations of the European Commission, Jozef Síkela, speaks during an interview with EFE this Friday, in Santiago (Chile). EFE/ Elvis González

Santiago de Chile – The European Commissioner for International Partnerships, Jozef Síkela, said this Friday to EFE that Latin America arouses “a lot of interest” among major European investors, but called for “less bureaucracy” to attract more private financing.

“The interest in Chile and Latin America is very great, but we have to work together to be faster and less bureaucratic on both sides, on the European Union side, but also on the local governments’ side. It is the only way to attract private investors,” he stated.

Síkela participated this Friday in a business forum prior to the 65th annual meeting of the Inter-American Development Bank (IDB) Board of Governors Assembly and called on the private sector to participate in the Global Gateway strategy, the investment financing plan for developing countries launched by the European Union in 2021.

The EU bloc has proposed mobilizing 45 billion euros by 2027 to finance regional projects in priority areas such as infrastructure and connectivity, green transition, or health.

“We cannot fund everything with public resources,” acknowledged the commissioner.

“We believe that in an increasingly fragmented world, our value proposition, which consists of investing not only in tangible assets but also in the transfer of knowledge, has enormous potential to deepen economic and other ties between the European Union and Latin America and the Caribbean,” he added.

Síkela stated that the pandemic and Russia’s invasion of Ukraine “taught” Europe that it is necessary to diversify trade alliances and rely on “reliable partners” like Latin America.

Asked whether the EU still considers the United States a reliable partner days before the reciprocal tariffs announced by President Donald Trump take effect, the commissioner said yes, but declared that the EU bloc “will react appropriately.”

“We have to meet and negotiate. We must analyze the problematic issues and strive to reach a solution (…) Trade between Europe and the U.S. represents the largest volume of business, and we have a huge responsibility to European citizens and also to Americans,” he insisted. (March 28)