(MENAFN- Kuwait News Agency (KUNA)) The European Commission Wednesday announced 118 million euro of new support for Latin America and the Caribbean, to increase EU investment and business cooperation in the region.
The announcement was made at the Business Summit being held on the sidelines of the EU and the Community of Latin America and Caribbean States (CELAC) summit.
EU Commissioner for International Cooperation and Development Neven Mimica said that "today's event is an opportunity for businesses from both sides of the Atlantic to come together, share ideas and strengthen ties. The new programmes signed today will help to further strengthen inclusive growth for European and Latin American societies." Meanwhile, the EU's executive body announced that it will later today initial bilateral visa waiver agreements with Peru and Colombia.
EU Commissioner for home affairs Dimitris Avramopoulos will sign its together with Peru's Minister for Foreign Affairs, Ana Maria Liliana Sanchez Vargas de Rios, and Colombia's Minister for Foreign Affairs, Maria Angela Holguin Cuellar.
Once the agreements have been formally signed, they will enter into force and from that date onwards the citizens of the two Latin-American countries will be able to travel without a visa to the EU's Schengen zone for stays of up to 90 days.
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