Latin America and Europe: A Call for a Strategic Economic Opening
Latin America is entering a moment many analysts describe as a potential turning point for regional prosperity. Mauricio Macri, the former president of Argentina, suggested to Spanish leaders that Europe and Mercosur should consider an expansive approach to their relationship. He argued that Latin America could become a major supplier of services and goods for Europe, provided policies align to create stronger market access and investment opportunities.
Speaking at the La Toja-Vínculo Atlántico Forum, Macri urged Spain, which would lead the European Union in the latter half of 2023, to support a broader opening of Latin American markets to European firms. He framed the proposal as a path to mutual growth, leveraging Latin America’s diverse resources to meet Europe’s energy and food demands in a balanced and sustainable way.
Macri criticized the current global context, noting the impact of Russia’s invasion of Ukraine on European economies. He argued that Iberian America could play a pivotal role in addressing energy and food security for Europe, while also benefiting from increased trade and investment flows that accompany a more open relationship between the regions.
According to the former Argentine president, Latin America remains cautious about opening its markets, a stance he believes slows regional development and keeps the area from reaching its full growth potential. He emphasized that the region possesses a wide array of resources and capabilities that could contribute to a more integrated and competitive economy if market barriers are reduced.
Macri asserted that regions grow most successfully when they embrace competition and adopt robust democratic institutions. He called for strengthening governance and institutional frameworks as essential steps toward a new phase of economic integration across Latin America. In his view, curbing populist rhetoric is important to create a climate conducive to long-term reform and growth, and he indicated that Argentina could lead the way in reversing negative trends.
The former Argentine leader warned of rising extremism, arguing that Europe has already witnessed a shift that could threaten prosperity. He cautioned that unchecked excesses could transform historically wealthy nations into societies marked by structural poverty, urging vigilance and a measured approach to political and economic reform.
Andrés Allamand, Secretary General of the Ibero-American community, highlighted the potential of a closer partnership with Europe. He described a relationship that remains below its full potential and encouraged a dialogue with Spain to unlock broader trade arrangements and to facilitate stronger European investment in Latin America. He also advocated for enhanced cooperation and a more active political dialogue with the EU to stimulate growth across both regions.
Allamand stressed the importance of reintegrating the Americas into a global framework where Europe is viewed as a strategic partner, pivotal for capital and natural resources. He underscored the need for coordinated actions that empower the region to pursue sustainable development while expanding its role in global supply chains.
Looking ahead, the leaders urged Latin American countries to rethink governance and policy design. They emphasized the importance of improving public trust in legislative and judicial systems, strengthening accountability, and creating a predictable policy environment conducive to private investment. A collectively higher standard of governance is seen as a cornerstone for unlocking longer-term economic benefits and ensuring more stable growth across the region.
In this context, the dialogue among European and Latin American authorities appears aimed at crafting a shared agenda that supports open markets, responsible investment, and resilient institutions. The overarching goal is to foster a balanced relationship where trade flows, investment, and technology transfer contribute to diverse growth strategies, job creation, and improved living standards for citizens on both sides of the Atlantic. [Source: La Toja-Vínculo Atlántico Forum reports and remarks]