Latin America Captivates EU Investors, But Must Simplify Bureaucracy, Says Síkelá to EFE

Santiago de Chile – European Commissioner for International Partnerships, Jozef Síkela, expressed on Friday to EFE that there is significant interest from major European investors in Latin America, but emphasized the need for “reduced bureaucracy” to draw in more private funding.

“The enthusiasm for Chile and Latin America is substantial, but it is essential that we collaborate to expedite processes and minimize red tape on both the European Union side as well as at the local government level. This is the only way to attract private investors,” he stated.

Síkela spoke at a business forum ahead of the 65th annual meeting of the Inter-American Development Bank (IDB) Board of Governors Assembly and encouraged the private sector to engage in the Global Gateway strategy, an investment initiative launched by the European Union in 2021 aimed at supporting developing countries.

The EU plans to mobilize 45 billion euros by 2027 to finance priority regional projects in areas such as infrastructure, connectivity, green transition, and health.

“We cannot rely solely on public resources for funding,” the commissioner acknowledged.

“In a world that is becoming increasingly fragmented, we believe our value proposition—investing in both tangible assets and knowledge transfer—holds immense potential to strengthen economic and other connections between the European Union and Latin America and the Caribbean,” he added.

Síkela noted that the pandemic and Russia’s invasion of Ukraine have underscored the need for Europe to diversify trade alliances and to partner with “reliable allies” like Latin America.

When asked if the EU still views the United States as a reliable partner, especially with the impending tariffs announced by President Donald Trump, the commissioner affirmed this stance but stated that the EU would “respond appropriately.”

“We need to convene and negotiate. It is important to address the problematic issues and work towards solutions (…) Trade between Europe and the U.S. constitutes the largest volume of business, and we are significantly responsible to both European and American citizens,” he stressed. (March 28)