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Montevideo, December 2nd 2021 - 22:08 UTC

 

 

UK/Uruguay agree to establish a Trade Dialogue to develop economic relations

Thursday, November 11th 2021 - 09:50 UTC
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UK's Minister for International Trade, Ranil Jayawardena, M.P., metts with Uruguay’s Foreign Minister, Ambassador Francisco Bustillo UK's Minister for International Trade, Ranil Jayawardena, M.P., metts with Uruguay’s Foreign Minister, Ambassador Francisco Bustillo

During a three-day official visit to Uruguay UK's Minister for International Trade, Ranil Jayawardena, M.P., met with Uruguay’s Foreign Minister, Ambassador Francisco Bustillo, and confirmed both countries’ desire to continue strengthening their bilateral trading relationship.

Following the September meeting, UK's Trade Commissioner (HMTC) to Latin America and the Caribbean, Jonathan Knott, met with Uruguay’s Director-General of International Economic Affairs to agree next steps for further deepening these ties.

Both shared their satisfaction with the excellent state of the bilateral relationship and reaffirmed their wish to strengthen bilateral ties to benefit each countries’ citizens. They recognised the historically close trade relations between Uruguay and the United Kingdom, and their shared interest in facilitating an increase in trade and investment flows, for mutual benefit.

Both parties demonstrated their commitment to strengthening trade cooperation between the two countries by formally agreeing to establish the United Kingdom-Uruguay Trade Dialogue, as a permanent bilateral forum between UK's Government and the Government of Uruguay to promote and increase bilateral trade and investment.

The Trade Dialogue is designed to facilitate the exchange of information and promote bilateral debates on ways for both countries to:

• promote trade and investment as a means to achieve economic growth, working together to strengthen export flows for high-performing sectors and goods and to attract reciprocal investment;
• maintain a favourable environment for agile, secure and transparent circulation of goods and service provision, addressing issues relating to market access, trade facilitation, and information on logistics and customs procedures;
• identify new opportunities to develop bilateral economic relations, with a view to identifying specific sectors and goods judged to have commercial potential;
• share good practice, promote transparency and the exchange of knowledge, and provide assistance in key areas;
• improve competitiveness by means of innovation, an entrepreneurial spirit and sustainability;
• exchange information on projects supporting sustainable development;
• promote, in line with the existing legislation of each country and through the adoption of suitable measures, the future development of mutually beneficial co-operation;
• propose recommendations to eliminate obstacles arising from the execution of any projects undertaken under this Trade Dialogue; and
• promote collaboration and partnerships between businesses.

The Senior Responsible Officers for the Trade Dialogue will be the Director-General for International Economic Affairs in Uruguay’s Ministry for Foreign Affairs, and the Director of Bilateral

Trade Relations in the United Kingdom’s Department for International Trade with attendance at meetings delegated as appropriate.

It will meet at least once a year, alternately in Uruguay and the United Kingdom, on dates decided by both parties, as well as virtually where necessary.

The Director-General and HMTC agreed to work together to tackle global challenges, including the COVID 19 pandemic recovery and climate change, highlighting the importance of free trade and free enterprise for building back better.

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