MercoPress. South Atlantic News Agency

Foreign Ministers of Argentina, Uruguay highlight bilateral increasing trade

Bustillo and Cafiero also ”agreed on the importance of continuing to hold regular meetings

Argentina's Foreign Minister Santiago Cafiero Tuesday in Buenos Aires with his Uruguayan counterpart Francisco Bustillo to discuss a 33% increase in bilateral trade, among other issues.

Argentine sales grew 27% (from US $ 1,077 million to US $ 1,369 million) while imports from Uruguay rose 51% (from US $ 375 million to US $ 565 million).

“The 33% growth in trade between the two countries demonstrates the strength and dynamism of the trade flow,” said Cafiero after the meeting.

Among Argentina's main export products to Uruguay are vehicles, corn, pharmaceuticals, plastics, chemicals and essential oils, while the country imported large amounts of paper pulp, artificial plastics, auto parts, machinery and electrical appliances, Cafiero explained.

Both foreign ministers also agreed that the bilateral relationship could only improve in the coming years and highlighted the climate of dialogue between the two countries, which results in reciprocal measures that will lead to the solution of the challenges ahead.

They also discussed Mercosur's Common External Tariff (CET) and the bloc's negotiations, which has not prevented bilateral commerce to increase.

Bustillo's trip further developed “the high-level dialogue started” when Cafiero took office back in October of 2021. A statement from Uruguay's Foreign Ministry also highlighted trade between the two countries “has remained dynamic.”

It added the “the conditions are in place to advance in the deepening of the bilateral relationship.”

The Uruguayan document also pointed out CETs have been under discussion for months and caused discrepancies among Mercosur member countries. “The bloc's external negotiations” were also on the table, and in this sense it was noted that they have not prevented both countries from continuing to carry out strong bilateral work.“

Bustillo and Cafiero also ”agreed on the importance of continuing to hold regular meetings.“

On his Twitter account, the Argentine minister posted that the meeting helped consolidate ”a common vision of the future,“ which ”will benefit our peoples and the progress of the region.”