New Trade Deals show EU’s commitment to Africa and Latin America

29 February 2024 -  Today, the European Parliament has given its consent to the ratification of the EU-Kenya Economic Partnership Agreement and to the Advanced Framework Agreement and an Interim Trade Agreement with Chile. BusinessEurope believes these deals will generate new trade and investment opportunities and will create quality jobs in both the EU and partner countries.

BusinessEurope Director General Markus J. Beyrer said: "These agreements mark an important step, consolidating the EU's ties with important partners in Africa and Latin America. They show real commitment from the EU to engage with partners around the world and build stronger and mutually beneficial relationships. In the current geopolitical context with increasing tensions, the EU remains a consistent and solid player that offers a sustainable model of economic development to interested partners.

These agreements contribute to the EU’s efforts to diversify markets for both exports and imports, mitigate risks and build more resilient value chains. This is particularly relevant in the case of critical raw materials, which are fundamental to support the green and digital transformations and European competitiveness. Finally, in the face of increasing unilateral actions that challenge multilateral rules, these deals champion modern, rules-based trade that sets high sustainability standards."