Spain's King Juan Carlos met here Monday with business owners and executives from his country, Portugal and over a dozen Latin American countries to analyze the possibilities of forming a strategic economic alliance that would favor joint ventures among them.

Close to 40 representatives of business associations in the region met Monday at Madrid's Zarzuela Palace, invited by the king on the occasion of the 23rd Ibero-American Businessmen's Organizations.

Heading the delegation was the president of Spain's CEOE organization, Juan Rosell, who was accompanied by the head of the Cepyme group representing Spanish small and mid-sized firms along with business leaders from Portugal, Argentina, Brazil, Colombia, Costa Rica, Chile, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Uruguay and Venezuela.

Rosell called for greater economic cooperation between Europe and Latin America through the creation of risk-sharing capital ventures and defended the importance of a stable regulatory framework in the countries of the region in order to favor investment. EFE