European Union- Latin American Trade: Current Conditions and Perspectives

Abstract

Total trade between the European Union, the EU, and the Latin American Counties, the LAC, grew very sluggishly in the last ten years. There are, however factors that could accelerate the expansion of this trade. Among these factors are: the high purchasing power of the wealthiest twenty percent of the LAC, the need that these countries have for the type of capital goods that the EU produces and the supplies of inexpensive labor in the LAC that could be used to develop dynamic manufacturing sectors.