CADIZ, Spain (AP) — Spanish Prime Minister Mariano Rajoy is opening the Iberoamerican summit, which brings together Latin American leaders and the heads of Spain and Portugal, the former colonial powers.

The meeting comes at a time when Latin America basks in strong economic growth and Spain and Portugal are stuck in deep recessions and struggling with high debt.

Heads of state from Mexico to Chile started arriving Friday in the port city of Cadiz, where conquistadores centuries ago unloaded riches taken from former Spanish colonies.

Police in Cadiz fired rubber bullets Friday afternoon at shipyard workers trying to disrupt the summit with a demonstration against mass layoffs that disrupted traffic for an hour.