The European Parliament is in favor of the European Union (EU) negotiating a free trade agreement with Central America and the Andean Community of Nations (CAN). There was fear that with the withdrawal of Venezuela from the CAN that the EU would reconsider its decision to negotiate an agreement with the remaining members. A spokesperson for the EU, Benita Ferrero-Waldner, admitted that the decision by Caracas did make the situation more complicated and hopes that the Andean nations can continue to find a way to keep progressing.
The goal is by 2010 to have a free trade agreement in place between the EU and the nations of Latin America. The EU is also in favor of creating a Europe-Latin America foundation along the lines of what already exists in Asia and the Mediterranean.