Uruguay and Brazil will be signing this month an agreement to promote the development of Uruguay's naval construction industry, which has been described as one of the fastest growing sectors of the economy, said Industry and Energy minister Roberto Kreimerman in Montevideo during the launching of a barge for the pulp industry.
Industry, Energy and Mining Minister, Roberto Kreimerman, said Uruguay would try to settle disputes with Argentina in order to reestablish trade relations, but he also recognized Uruguay’s relationship with Argentina 'will never be the same'. The minister revealed that 32 million dollars of Uruguayan exports are blocked at Argentine Customs.
Uruguay awarded French gas and power group GDF Suez SA a contract to build a liquefied natural gas (LNG) re-gasification plant at an estimated cost of 1.125 billion dollars, the government said on Tuesday.
Uruguayan exports of goods in March continued falling thus closing a discouraging first quarter, according to Uruguay XXI, the country’s agency responsible for promoting trade and investment in the country.
Uruguay’ Chamber of Industries, CIU, criticized the ‘indiscriminate’ influx of foreign goods, labour costs and Mercosur, and called on government to change the focus of its policies towards manufacturing underscoring that the domestic market represents 55% of industries’ GDP.
Uruguayan Industry, Energy and Mining minister Roberto Kreimerman called on the European Union and Mercosur members to double efforts and advance in negotiations to achieve a wide ranging association agreement which has been discussed for almost two decades.
Brazil raised to the maximum the common external tariff, AEC, that Mercosur charges on imported goods from out of the zone. The decree was published in Monday’s edition of the Official Gazette and includes a hundred goods.
Uruguay’s Minister of Industry and Energy Roberto Kreimerman admitted that Brazil suspended the access of textiles from Uruguay alleging that they were essentially Chinese cloth rolls with minimum input but stamped as Uruguayan manufactured and dispatched to Brazil.
India emphasized the need to deepen trade and investment engagements with Latin America by expanding the existing PTA with Mercosur, during a business seminar in Montevideo, Uruguay. But he added that double tax and investment protections agreements are critical to expansion.
Uruguay’s cabinet meeting spokesperson confirmed Wednesday that Argentina had “liberated” 75% of the import licences that remained delayed and which was one of the main points of the agenda in the recent summit between Uruguayan president Jose Mujica and Argentina’s Cristina Fernandez de Kirchner.