Latin America

Uruguay and China prepare to sign FTA | News

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Uruguayan President Luis Lacalle Pou announced on Wednesday the beginning of a Free Trade Agreement (FTA) with China based on the “openness” perspective of the South American country. in sequence:

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The president reported that the negotiation will “formally begin” after the feasibility studies of the FTA lead to a “positive conclusion.”

“Since this government took office, despite the pandemic, we have had a foreign relations policy of linking with the world with a clearly open-minded vocation,” recalled Lacalle Pou.

��The President of the Republic, @LuisLacallePoureported that a beneficial feasibility agreement was reached with China, initiated in September 2021, to work on a free trade agreement ��������

— Presidential Communication (@compresidency)
July 14, 2022

The firm obeys the government’s strategy to “try to sell, trade the country’s products, raw materials, industrialized products and technology.”

Uruguay launched the proceedings for these alliances in 2021 despite being adjusted to the parameters of Mercosur where it is established that the member states must have the endorsement of the rest (Brazil, Argentina and Paraguay) to negotiate with other countries.

In this regard, the president said that his country has insisted “over and over again” on its intention to “open up to the world” and “establish all kinds of agreements with different nations.”

“In each Mercosur summit and in each instance that we have had, we reaffirm the Uruguayan opening vocation. This does not contravene or is opposed to belonging to the bloc,” said the Uruguayan president.

However, Lacalle Pou pointed out that the Uruguayan foreign minister, Francisco Bustillo, contacted the member countries of Mercosur to inform them of the decision.

In the president’s opinion, “the agreements represent prosperity, opportunities and work” and his government is creating strategies to achieve these indicators in the country.

In addition to the position of Mercosur, the Government of Lacalle Pou must take into account the impact that this decision may have on the jobs of the country’s workers, the competitiveness of the companies that have already invested in the country and ensure the no long-term dependency on the Asian nation.

Disclaimer: Via Telesur – Translated by RJ983

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