OBREAL is a network that was created in order to implement a cooperation project of the European Commission (DG RELEX y EuropeAid). At that moment, the Commission pointed out, in its call, that the relationship between the European Union and Latin America had become closer as a result of bi-regional summits, existing association agreements (i.e. México and Chile) and association agreement negotiations. Therefore, more and more advice was required for decision-making in the area of bi-regional relationships.
In this context, OBREAL was born with the aim of contributing to the formation of a network of institutions and organizations which were disseminated in both regions without coordination mechanisms and limited visibility. As a result, OBREAL was set up by 23 academic institutions, research centers in Europe and Latin America, and their own networks, all in a new association with its Executive Secretariat in the University of Barcelona.
Between 2004 an 2007, research of OBREAL was organized into five thematic areas:

• Trade and financial relations and regional integration
• Democracy, human rights and the rule of law
• Social and development cooperation
• Global governance and multi-regionalism
• Civil society and institution building

Since 2008, OBREAL re-defined its former thematic areas and included two new areas: Audiovisuals and Cooperation in Communication and Higher Education, Citizenship & LAC-EU Space.  
In this new context, and keeping its main goals, OBREAL concentrated its actions in project managing, incorporating new members and supporting institutions to the network.