Fears that Uruguay could be heading for a “real estate bubble” since prices in US dollars have increased more than 70% in the last five years, seem to have been neutralized by historic data and the strong appreciation of the Uruguayan currency.
Uruguay pledged efforts to seek a stronger relationship with Beijing since “China is an essential factor in the international development of Uruguay”, said Vice-President Danilo Astori following an hour long meeting in Beijing with his counterpart Wu Bangguo, president of the National Assembly.
Argentine Foreign Affairs Minister Héctor Timerman will meet Monday in Montevideo with his Uruguayan counterpart, Luis Almagro, to advance with the implementation of the scientific committee that will monitor the UPM (ex Botnia) pulp mill and the River Uruguay.
The United States Centre for Hemispheric Defence Studies (CHDS) has selected U.S. Army Gen. John Galvin and former Uruguayan Defence Minister Dr. José Bayardi in the individual category and the Mexican Centre for Superior Naval Studies (CESNAV) in the institutional category for the 2010 William J. Perry Award for Excellence in Security and Defence Education.
Uruguay’s renowned sea resort Punta del Este will be hosting next December the 2010 Eurofruit Congress Southern Hemisphere. This is the first time the annual conference and exhibition event for the region’s fresh produce industry comes to Uruguay.
Argentine Foreign Affairs Minister Héctor Timerman informed via Twitter that he will fly to Montevideo next Monday to meet his Uruguayan counterpart, Luis Almagro in the framework of the recent agreement regarding the dispute over the UPM/Botnia pulp-mill.
Uruguay has 1.7 million hectares of forests of which almost a million hectares have been planted to feed the growing pulp industry while the rest are so called native forests, according to primary data from an inventory compiled by the Ministry of Agriculture with support from United Nations.
While Uruguay supports the regional trade group Mercosur, “we are also trying to diversify the economy more to other parts of the world” said central bank president Mario Bergara during his recent visit to meet investors in New York.
“Happy Independence Day, Uruguay”, said US Secretary of State Hillary Clinton in her August 25th message adding that “the US joins in celebrating your many accomplishments this past year, and in honouring your leadership in our region and across the world”.
Uruguay whose credit rating was cut to junk in 2002, expects to return to investment grade within two years, central bank President Mario Bergara said. “We are confident that in one or two years we will have investment grade again,” Bergara said at an investors’ conference in New York Monday.