The First lac-eu Summit, carried out in Rio de Janeiro in 1999, was the beginning of a strategic alliance between Latin America and the European Union. Despite the difficulties, this association has been useful for both parties. In this article, we study the evolution of these biregional relationships analyzing its immediate future. We also present the 7 bi-regional summits from 1999 until 2013, the progress made by them, the challenges that this strategic alliance has to face, the debate of the future of bi-regional relationships and the new strategies that the lac-eu association must follow to achieve its objectives. Finally, we propose a new agenda and issues to consolidate the regional cooperation.