On December 8 2005, the European Commission published a policy strategy document for the co-operation with Latin American Countries entitled "Stronger partnership between the European Union and Latin America"(COM(2005)636 final)  with the objective of giving new impetus to the partnership. A strategy to strengthen the partnership between the European Union and Latin America had become necessary due to changes in the two regions subsequent to the previous general policy communication in 1995.

The EU's strategy for Latin America was intended to reaffirm its interest in and support for the region, particularly with regard to human rights, democracy and multilateralism. Fundamental to this strategy is the Commission's objective of reinforcing its involvement in several areas, including the fight against social inequality and the promotion of the principles of sustainable development.

The strategy recommends an approach whereby each Latin American actor is an interlocutor as well as a partner. Particular focus is placed on co-operation with sub-regions such as Mercosur, the Andean Community and Central America. Relations with Latin American countries are organized according to a distinction between the different countries in terms not just of their gross domestic product (GDP) but also of the role they play on the international stage (e.g. Brazil, Mexico). Relations with each country should be tailored according to their particular circumstances.

Long-term objectives:

• Political dialogue: The Commission's strategy for Latin America aims at establishing political dialogue on issues such as UN reform, peace-keeping, crisis prevention and crisis situations in certain countries of the region, with a view to enhancing the influence of both regions on the international stage.
• Positive investment climate: The strategy aims to reinforce the framework designed to help Latin American countries attract more European investment, thereby contributing to economic development. This will entail the creation of a network of association agreements with each country and free trade agreements with regions that are sufficiently integrated (such as Mercosur). Emphasis is placed on regional integration in Latin America, enabling it to stand up to European competition.
• Business: Businesses in both the EU and Latin America are integral to the strategy. Latin American businesses may enjoy easier access to Europe's markets, particularly by means of the Generalized System of Preferences. In turn, the European business community wants to achieve favorable conditions in Latin America with regard to the elimination of trade barriers.
• Social cohesion: Promoting social cohesion supports the fight against poverty and inequality. The strategy aims to improve social integration through a combination of economic growth, higher employment, fairness and solidarity. To further this aim, the strategy proposes to initiate bi-regional dialogue and to set a Social Cohesion Forum meeting every other year. It also aims to promote the close involvement of international organizations and private and state actors in the region. Social cohesion is envisaged as a priority issue of aid and development co-operation policy for the period 2007-2013.
• Good governance: The strategy proposes strengthening co-operation, increasing participation by civil society and citizens in political life and creating an EU-Latin America Transatlantic Assembly, as recommended by the European Parliament.
• Security: The EU also intends to support efforts to combat security threats, particularly the fight against illegal drugs, which should be pursued on the basis of shared responsibility, and the fight against crime, such as money laundering and corruption. These efforts should focus on transparency through good financial, fiscal and legal governance.
• Infrastructure for regional integration: The strategy places great importance on regional and sub-regional integration and intends to give active support to it. This requires improved infrastructure and interconnectivity networks in sectors such as transport, water and energy. A Latin American Facility should be set up with the help of loans from the European Investment Bank, with the objective of assisting the development and strengthening of these networks.
• Environment and Sustainable Development: The EU should develop effective sectoral dialogue with a view to promoting sustainable development.  It must encourage co-operation and discussion on the environmental aspects of sustainable development, focusing specifically on climate change, energy, water, biodiversity and forests. Environment ministers should meet before each EU-LAC Summit, and discussion of such issues should be further promoted within the UN.

Improving development co-operation with Latin American countries

With a view to improving development co-operation and mutual understanding between the EU and Latin America, the Commission's strategy sets out the following proposals:

• There should be a focus on priority themes such as social cohesion and regional integration;
• Aid and co-operation for the period 2007-2013 should concentrate on specific sectors, with the main objective of combating poverty;
• Greater co-ordination of European aid should be achieved as a result of the European Consensus on Development Policy;
• The specific role of certain actors in the region, such as Brazil and Mexico, should be acknowledged by fostering political dialogue and further tapping the potential of association agreements;
• An EU-LAC common area of higher education should be established, particularly via the development of university exchanges under the Alßan , Alfa and Erasmus Mundus programs;
• Communication between the regions and mutual awareness should be improved with a view to fostering mutual understanding, particularly as regards cultural co-operation; this could be aided by organizing a Europe Week in all Latin American countries.