Complex sentence: East Asia and Latin America are both comprising of developing countries are economically dynamic and complementary to each other with the global trend of regional cooperation the need for intercontinental cooperation between East Asia and Latin America arose since there was no official cooperative mechanism bridging the two regions.
Split into simpler sentences: East Asia and Latin America are both composed of developing countries and are economically dynamic and complementary to each other. They follow the global trend of regional cooperation; the need for intercontinental cooperation between East Asia and Latin America arose because there was no official cooperative mechanism bridging the two regions.