European Union and Latin American integration schemes: finding the route of approach

Abstract

The article is devoted to the analysis of the economic relationships of the European Union with the integration associations of Latin American and the Caribbean countries (LAC) on the basis of agreements in force for two decades of the 21st century. The article shows that, despite the different formats of Latin American integration process and its difference from the European model, the European Union is progressively negotiating the development of existing trade agreements. It includes the need of their modernization taking into account new areas of cooperation: the issues of sustainable development and the environmental component, digitalization trend, and post pandemic recovery. The author comes to the conclusion that cooperation through the processes of regional integration on both sides of the Atlantic will remain one of the main features of interregional relations in EU-LAC format. The experience of such an economic partnership can be useful for the Eurasian Economic Union (EAEU), as well as for Russia's international economic positions in the LAC countries.