The Heads of State of Mercosur and the Troika of the European Union met in Lima on 17 May on the occasion of the Fifth Summit between the European Union, Latin America and the Caribbean. The Heads of State or Government discussed the situation in both regions and informed their counterparts of the latest developments in their respective integration processes. Both sides renewed their commitment to strengthening cooperation and their political, economic and commercial relations, in accordance with the principles and objectives of the 1995 Madrid Treaty.

Both sides stressed the importance of the political dialogue between the two regions as a fundamental tool for improving mutual understanding on matters of common concern, such as overcoming poverty, inequality and hunger at a global and regional level, fostering social and economic development and social inclusion, promoting human rights and combating all forms of discrimination, preventing climate change and encouraging the use of sustainable and renewable sources of energy.

Both delegations welcomed the progress achieved within Mercosur-European Union regional cooperation. Both sides agreed on the importance of extending bi-regional cooperation to the fields of infrastructure, renewable energy sources, and science and technology, in order to continue to engage in projects of mutual interest, using all available sources and instruments. In this respect they agreed to convene a meeting of the Council of Cooperation during the second half of 2008.

Both sides underlined the importance of reaching an ambitious and balanced Mercosur-European Union Association Agreement and reiterated their commitment to carrying negotiations through to a successful conclusion, as soon as conditions permit, on the basis of the work already carried out.

Both sides expressed their commitment to the Doha Round process, and stressed their political interest in coming together towards an ambitious and balanced agreement.

Source: Ministry of External Relations