Russia - Latin America Economic Cooperation: Insights from EU - CELAC Sustainable Development Concept

Abstract

The article considers cooperation patterns between the European Union (EU) and CELAC (Community of Latin America and the Caribbean) in the context of creatively applying this experience to a broader topic of Russia - Latin America multilevel cooperation. The concept of sustainable development, which implies interaction in accordance with its three main dimensions: environmental, social and economic, is adopted on the global level. The interaction between EU and CELAC contributes to the progress in achieving the goals of sustainable development, where a lot of attention is paid to the green economy, alternative energy, and social aspects, since the environmental aspects constraints are providing the most significant impetus to structural changes in the existing development paradigm. This in return is expected to create a model that ensures economic growth based on a green economy, alternative energy, with greater equality and social inclusiveness. At supranational level in the European Union an effective and systemic policy has been formed in the field of nature conservation and combating climate change, which without a doubt can be considered one of the most progressive ones in the world, which creates potential for sharing these experiences with less developed and fortunate nations. European programs for Latin American and Caribbean (LAC) countries have become an important factor in the development of interregional cooperation in environmental protection, biodiversity conservation, and countering natural disasters. The article also focuses on the most recent changes that have occurred in the sphere of interaction between CELAC and EU in the context of COVID-19 pandemic. Massive structural and conceptual changes that have seriously reshaped the priorities and funding of joint programmers between two organizations reflects new priorities for sustainable development in general when it comes to new world realities in post-pandemic world, and could be useful for Russian model for the relations with this region.