CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) Ministers of Foreign Affairs of the European Union (EU), Latin America and the Caribbean (EU-LAC) met in Madrid, Spain on Monday to finalise the “Madrid Documents” for approval by Heads of State and Government attending the Sixth EU-LAC Summit on Tuesday.
The endorsement of the Madrid Documents would represent a new strategic relationship between Europe and Latin America and include a new financing line in Brussels for Latin America and the Caribbean. The documents also include the following:

A declaration on challenges relating to the global development agenda, including the financial crisis, climate change, development, immigration, trade, technological innovation, organised crime and poverty.   
A work programme - the first to be adopted at an EU-LAC summit – that would ensure the continuity of the objectives and initiatives adopted, including the creation of a task force to respond to any complex or unexpected situations affecting the interests of the two regions
The creation of a new foundation focusing on issues of mutual interest - the Eurolat Foundation - and definition of how this is to be structured and set up.

A set of bi-regional agreements such as those already signed with Colombia and Peru, and the association agreement with Central America, which is in the final stages of negotiation, and another on the re-launch of relations with Mercosur.  
The Ministers discussed the prospect of a renewed strategic partnership between the EU and LAC, one that would enhance their ability to deal with the challenges and opportunities of a globalised world and “a partnership focused on the issues that dominate the international agenda, with the aim of building effective, results-driven dialogue that will make it possible to reach and defend common positions in international fora.”
High Representative of the EU for Foreign Affairs and Security Policy, Catherine Ashton told a press conference after the meeting, that the approval of the documents would hopefully pave the way for an agreement between the future leaders in a new era in EU-LAC relations. The LAC group was represented at the Press Conference by the Minister of Foreign Affairs of Argentina, Jorge Enrique Taiana.