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Estonia · Law · SE

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Law on the Ratification of the Treaty of the European Union and the International Foundation of Latin America and the Caribbean

avaldatud riigiteatajasEstonia· Riigikogu· ET

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2 May 2017

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AVALDATUD_RIIGITEATAJAS

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20 September 2017

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Summary

The draft ratifies the founding agreement of the international foundation of the European Union and the Latin American and Caribbean region, which Estonia signed on October 25, 2016. In 2011, the EU-Latin America and the Caribbean (hereinafter CELAC) Fund was established in Hamburg with the aim of strengthening the partnership between the EU and CELAC member states and promoting mutual understanding and visibility between the regions. The fund was founded on the premise that it will, if possible, be transformed into an international organization with an international founding agreement to be concluded in the future. The purpose of the agreement is to establish the EU-LAC Foundation as an international organization with legal personality under public international law. The foundation can be seen as a tool of the EU's common foreign policy, because its activities help bring the activities of the member states closer together towards Latin America and the Caribbean, ensuring that the EU is able to assert its interests and values ​​within the framework of the partnership between the two regions. Establishing the foundation as an international organization will help increase its ability to raise funds from its member states – many member states are currently unable to make a voluntary financial contribution to the foundation because the foundation is established under German civil law. If the fund becomes international status of the organization, it also allows it to cut certain costs, benefit from privileges and immunities arising from international law, and make better use of its financial and human resources. This, in turn, makes it possible to maintain and further develop activities to support the partnership. The foreign committee was appointed as the leading committee.

Machine translation from Estonian. The official text remains authoritative.

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