The Kingdom of Spain has deposited the ratification instrument of the agreement that transforms the EU-LAC Foundation into an international organisation, becoming the eight European Union Member to ratify this agreement.
Spain’s ratification reflects its commitment to strengthen and maintain the dynamic and close relations between the European Union and Latin America and the Caribbean. The bi-regional relations hold a fundamental role for the country that hosted of two of the bi-regional Summits, including that of 2010 in which the EU-LAC Foundation was created.
The threshold for entry into force of the Agreement is eight ratifications from each region. The EU-LAC Foundation has been operating with a transitory status under German civil law since November 2011, yet the swift ratification of the Agreement will allow it to be recognised as a genuine bi-regional organisation and be better equipped for the fulfillment of its ambitious mandate.