EAEU and SELA intend to deepen dialogue

The issues of intensifying cooperation on a wide range of economic agenda were discussed during a working meeting between Sergei Glazyev, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission, and Clarems Endara Vera, Permanent Secretary of the Latin American and Caribbean Economic System (SELA), on June 6 on the sidelines of the 27th St. Petersburg International Economic Forum.

The parties discussed the coinciding guidelines for developing the two associations, as well as the high potential for cooperation in a number of economic areas.

“Our Union is actively developing cooperation with many EAEU countries – Cuba is the Observer State at the EAEU, a Memorandum of Interaction has been signed with Nicaragua, a Memorandum of Understanding between the EEC and the SELA is in force, which, by the way, was signed on the sidelines of the SPIEF in 2018. Our structures have all the necessary institutional framework for further deepening of the dialogue,” Sergei Glazyev emphasized.
Clarems Endara Vera informed on the current state of trade within the SELA, interaction with international partners and promising areas of cooperation with the EAEU countries.

“The EAEU is a successful integration project, many of the Union's achievements can be applied in the SELA as well. We would propose to establish an exchange of experience in the field of statistics in terms of studying the depth of integration processes and their impact on the competitiveness of the Member States' economies,” the Permanent Secretary commented.

 Clarems Endara Vera emphasized the interest in dialogue on public procurement regulation, inviting the EEC to make a presentation on these issues at the Skills Forum to be held in August 2024 in Honduras. He also expressed interest in joint expert discussions on measuring the effects of integration, supporting further practice of holding joint thematic seminars in 2024.

In turn, Sergei Glazyev invited the SELA representatives to take part in the 3rd Eurasian Economic Forum in September 2024.

The Latin American and Caribbean Economic System (SELA) is an economic community of Latin American countries that was created in 1975 and unites 26 Latin American States: Argentina, Barbados, Bolivia, Brazil, Venezuela, Haiti, Guyana, Guatemala, Honduras, Grenada, Dominican Republic, Columbia, Costa Rica, Cuba, Mexico, Nicaragua, Panama, Paraguay, Peru, Salvador, Suriname, Trinidad and Tobago, Uruguay, Chili, Ecuador, and Jamaica.

The SELA supreme body is the Latin American Council, convened annually. The organization's day-to-day operations are managed by a Permanent Secretariat. Working committees are established to implement specific economic programs.