The Organization of Ibero-American states (OEI) holds their yearly diplomatic conference, gathering the heads of government and state of all member nations.
This organization represents a community of Spanish and Portuguse speaking nations in Europe and the Americas. The aim of building community ties between these nations that share languages, histories and cultures is to impulse their presence in the sphere of global economics and international relations.
This year's 22nd summit is tied in with the celebrations of the bicentenary of the 1812 Cadíz Constitution. The theme is 'Transforming the State and Development'.
The 21st Summit was the worst attended ever, with eight presidents simply not showing up. President Lula of Brazil complained that those attending could not even bring themselves to condemn the coup d'etat in Honduras at the time.
However, this year Latin American economies are experiencing healthier growth than that of their European partners'. These days Spain and Portugal could be looking to Latin America for opportunity.
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