Uruguay’ Foreign Affairs Minister Luis Almagro revealed that the government of President Cristina Fernandez is fully involved in the implementation of a plan called “Argentina 2020: substitution of imports” and therefore bilateral trade negotiations that are difficult, will continue on that same path for several years.
The new US ambassador in Uruguay, confirmed this week by the US Senate, expects to hold contacts with Uruguayan authorities to promote and negotiate a free trade agreement.
Uruguay reiterated its full and traditional support for Argentina’s sovereignty claims over the Falklands/Malvinas Islands, but at the same time underlined that “there is no blockade to the inhabitants of the Malvinas Islands by any country of the continent”, and clearly differentiated the Cuban and Malvinas blockades.
The Central Bank of Uruguay left its benchmark interest rate unchanged at 8.75% on Thursday, saying the current level is consistent with a restrictive monetary policy as Uruguayan authorities stubbornly battle high inflation.
Nine oil and gas companies have submitted 19 bids to explore for hydrocarbons off the coast of Uruguay, the state energy company Ancap said on Thursday.
Foreign Affairs minister Luis Almagro said that the Uruguayan government does not oppose trade with the Falkland Islands and any undertaking to that effect by the private sector is welcome since “Uruguay does not agree with any commercial or economic blockade of the Islands”.
Next week marks the 30th anniversary of the invasion of the Falkland Islands by Argentine forces which erupted into a full blown conflict with the UK that ended 74 days later with the complete unconditional surrender of the invading forces.
An Argentine extremist group is planning to ‘capture’ a vessel which was involved in the Falklands conflict and currently flies the Uruguayan flag and operates in the port of Montevideo, as an act of vindication ahead of the coming 30th anniversary of the Argentine invasion of the Islands.
Uruguay’s economic growth slowed more than economists forecast in the fourth quarter as a refinery closure and the start of a drought trimmed a nine-year expansion; nevertheless the Central Bank said overall expansion in the twelve months of 2011 was “very good” in the current global context and just short of government’s target.
Uruguay’s Ministry of Agriculture, Livestock and Fisheries has imposed a transitory ban on all genetic material imports from Europe following the outbreak of the disease Schmallenberg which attacks bovines, sheep, goats and buffalos.