EU Concerned About Moscow, Beijing's Growing Influence in Latin America, Reports Say

MOSCOW (Sputnik) - The EU is concerned about the growing influence of Russia and China in Latin America and is preparing a set of countermeasures to regain its leading positions in the region, Spanish newspaper El Pais reported on Thursday, citing a document prepared by the EU diplomatic service and sent to the foreign ministers of EU countries.

The EU is worried about Russia and, especially, China gaining foothold in Latin America, a region that has been traditionally connected with the West by political and trade relations, the newspaper said, adding that Brussels is preparing a diplomatic and trade counteroffensive in 2023 to regain its positions.

The EU has neglected relations with Latin American countries for almost a decade and focused on other issues, including Libya, Syria and Ukraine, according to the document.

Meanwhile, China increased its investments 26 times starting in 2000-2020, with Beijing now being the first or second most important trading partner of Latin America and the Caribbean, displacing the EU and surpassing the United States in many countries, the document said. Brussels already feels competition from Beijing and Moscow in terms of region`s support in multilateral international fora, it added.

According to the document, Brussels will try to expand its multilateral cooperation with Latin American and Caribbean countries by holding a summit during the EU Spanish presidency in the second half of 2023.

The European Commission will allocate 3.4 billion euros ($3.5 billion) for cooperation with the region from 2021 to 2027, the document said, adding that these funds should be used strategically and with maximum impact.

Brussels is preparing an investment package that, relying on public and private capital, as well as loans, could attract 8 billion euros ($8.1 billion), the document said. Bolivia, Argentina and Chile, having 60% of lithium reserves, and Venezuela, Argentina and Brazil, having significant oil and gas reserves, can become useful partners, with no altruism taking place, the report said.