Towards a new stage in cooperation between the European Union and Central America: an economic association agreement

Abstract

For the following months we will be witnesses of a series of meetings that will be held by the European Union and Central American representatives, whose aim is to lay the key axes which lead to a potential economic Association Agreement between both regions. This Agreement could be the peak of some relationships having their cornerstone in San José Agreement, which began in 1984, and had their definitive consolidation in may 2006, in the EU-Latin America and the Caribbean Summit. According to European bloc, that Agreement is formed by three elements: political dialogue, economic cooperation and commercial aspect, which includes the signature of a free trade agreement. However, the existence of economic and trade asymmetries between these two regions may make us think about the development possibilities that a new trade agreement could bring to the isthmus. In this sense, this work tries to clarify which could be the advantages for Central America with this Agreement, as well as to explain the interests that an Agreement like this may represent for the EU.