The Bologna Process is one of the major developments to have taken place in higher education in recent centuries. It has had an impact beyond European borders and repercussions in other parts of the world. Ibero-America has also sat up and taken note, even though scholars agree that there would be difficulties with its direct implementation in the region. Specialised opinions like these might suggest the initiative could not be implemented elsewhere. There can be no doubt, however, about the influence of the Bologna Process. On the one hand, the European Union has promoted and sponsored projects which involve transferring specific instruments (like Tuning) to the Ibero-American region. On the other, Latin America faces integration and globalisation challenges that are similar to Europe's and these, in turn, call for the development of approaches and instruments that will facilitate academic mobility and increase the transparency of degrees and qualifications. The recent impetus injected by the Ibero-American Summits into the Ibero-American Knowledge Space also seeks to help build common ground in higher education, scientific research and technological development.