EU-CELAC Summit Underway in Brussels

Heads of state from 60 European and Latin American countries are gathered in Brussels for the 2nd EU-CELAC summit. The two-day meeting was opened by European Union foreign policy chief Federica Mogherini who stressed the importance of trade between the two regions, which currently stands at US$225 billion a year. She reported that Latin America is the main recipient of EU foreign direct investment, to the tune of 500 billion euros. Ecuadoran President Rafael Correa told the summit that it not the lack of resources that is responsible for Latin America having the highest levels of poverty in the world, but the concentration of wealth, and that to eradicate poverty, it is necessary to eliminate inequality. teleSUR