Strasbourg, 19/11/2001 (Agence Europe) - With its adoption last Thursday of the own-initiative report by Partido Popular member José Ignacio Salafranca, the European Parliament invited the European Union to adopt a new common strategy for Latin America and the Caribbean, for an initial period of four years, as a means of steering and giving content to the Union's action to launch the bi-regional strategic partnership agreed at the Rio Summit in June 1999. In its lengthy and detailed resolution (66 points), Parliament called for: (a) in the political sphere, the establishment of a Euro-Latin American trans-Atlantic assembly, the signature of a peace charter and implementation of a political and security partnership; (b) in the economic, financial and commercial spheres, creation of a Euro-Latin American free trade area by 2010; (c) in the social and cultural spheres, creation of a bi-regional solidarity fund, establishment of a global plan to combat drugs and creation of a Euro-Latin American studies centre. The resolution adds that the new strategy must have the goal of promoting respect for human rights, democracy, good governance, transparency and the rule of law.