Spain and the EU’s LatAm Engagement: A Shifting Geopolitical Dance
Two major regions and a network spanning nearly 50 countries and centers frame a debate about Europe’s role on the world stage. Spain, holding the rotating presidency of the European Union, seeks to leverage this period from mid-2023 to deepen ties with Latin America, while the bloc surveys how to balance its internal priorities with outward outreach.
Commenting to EL PERIÓDICO DE ESPAÑA, Iberian analyst Mariano Sabuncu, President of the Organization of Ibero-American States (OEI), suggested that Spain has a six-month window to refocus the EU’s attention on South America. The real challenge, he added, would be to sustain that momentum beyond Spain’s chairmanship through December 31, 2023, and to persuade other partners to join the effort.
Carlos Malamud, Principal Investigator at the Royal Institute of Elcano, emphasized that if a broader, durable alliance is not forged, Europe’s gains could be limited. He cautioned against overreliance on Spain’s initiative alone and urged broader engagement from EU partners to cement a lasting partnership with Latin America.
Questions persist about whether Spain can persuade Brussels to sign a substantial Latin America–EU alliance. Is Europe prepared to back a reformulated relationship that matches Latin America’s expectations, or is the negotiating table more evenly split than it appears?
“The process is a two-way street. Europe may want stronger Latin American ties, but if the other side does not share that view, outcomes will be constrained. The relationship must be horizontal and balanced rather than top-down,” Malamud noted. He also pointed out that the EU is still figuring out what it wants from Latin America, while Latin America itself is seeking clearer goals from Europe.
With Ukraine in focus and regional instability in the Middle East and North Africa affecting attention elsewhere, the EU’s strategic calculus has shifted. Yet Latin America remains a key partner with substantial, long-term potential for investment and geostrategic value as a bridge between continents.
According to Malamud, recent years may have seen attention drift toward other regions, but the EU has invested more in Latin America than China, Russia, and India combined. The commentary underscored a need not to overlook Latin America’s importance even as global dynamics pivot. The fear, he suggested, is a quiet retreat that could weaken Western influence in a region deemed essential to sustainable growth and resource access.
China’s decade-long push in Latin America has reshaped perceived opportunities. The trade war with the United States and a growing footprint in the region have allowed China to extend political influence, secure raw materials, and project its model of development. From 2008 to 2018, EU–Latin America–Caribbean trade rose only modestly, while trade with China surged, aided by initiatives like the New Silk Road that linked more Latin American economies to Chinese-led commerce.
Some Latin American voices now urge caution about becoming too dependent on any single external partner. While China offers market access and investment, critics warn that the resulting value added in local industries can be limited, potentially shaping economies primarily as exporters of raw materials rather than as advanced producers. Malamud framed this as a tension between opportunity and strategic risk, noting that while the region remains a significant market for commodities, the path to diversified, value-added growth requires broader, more balanced engagement with multiple partners.
Within Spain, officials have signaled openness to a robust EU–Latin America partnership culminating in a Euro-Latin America Summit, with discussions anticipated around July 2023. The EU’s leadership has also drawn attention to the role of key Spanish voices in shaping foreign policy toward the region. Josep Borrell, the EU’s High Representative for Foreign Policy, has urged Europe to align its external priorities with Latin America’s evolving realities and to view the region as central to geopolitical influence.
Former Spanish Prime Minister Jose Luis Rodríguez Zapatero echoed the sentiment, describing Europe–Latin America cooperation as a pathway to growth and integration. The dialogue highlighted a shared belief that regional collaboration can drive development, resilience, and stability across both continents, especially when framed as a joint agenda rather than a series of one-off projects.
Looking ahead, analysts and policymakers are evaluating Latin America’s growth trajectory. Early projections for 2022 indicated modest expansion, with average growth near 2.1 percent, hampered by lingering pandemic impacts on employment, notably among women and youth. The emphasis remains on leveraging regional strengths, fostering inclusive development, and building enduring partnerships that can weather global disruptions.
As Europe reassesses its global strategy, the question endures: can a renewed EU–Latin America alliance translate into tangible economic, political, and social benefits? The outcome will likely hinge on mutual confidence, shared interests, and a willingness to pursue a balanced, cooperative framework that respects the aspirations of both sides. The path forward will require persistence, clear goals, and a commitment to concrete, value-driven collaboration.