India is reaching out to emerging markets and Latin America, and more precisely Mercosur is a strategic priority, said India’s Minister for Commerce and Industry Jyotiraditya Scindia addressing the Confederation of Indian Industry (CII) India-Uruguay business conference that hosted a large Uruguayan business delegation led by the country’s Vice-President, Danilo Astori.
Uruguay government owned oil company ANCAP contracted the international company Fugro for the provision of geophysical services covering a complete aero-magnetic survey of the River Plate area and Atlantic Ocean where Uruguay is about to launch a hydrocarbons exploratory round.
By Dominique Strauss-Kahn - Latin America has enjoyed tremendous economic dynamism and a rising quality of life in recent years. But, faced with new challenges, the question is: how best to sustain this progress?
Uruguay and Argentina signed on Friday an agreement to build a re-gasification plant for liquid natural gas to help meet their energy needs. The floating re-gasification plant will supply the two nations with 10 million cubic meters a day of natural gas, scalable to 15 million, starting in 2013 according to an official statement.
Uruguay’s leading and largest fish processing company Fripur S.A. claimed in full page ads in Montevideo’s newspapers that it is the victim of a “strong media offensive” that “irresponsibly” questions the way in which it processes products that are sold both in Uruguay and overseas.
The Spanish embassy is closely following the difficulties faced by Spanish fishing companies in the port of Montevideo, some of which have decided to stop operating in Uruguay.
India pledged on Thursday greater economic cooperation with Uruguay in sectors such as agriculture, pharmaceuticals, textiles, automobiles, machineries and IT. In 2009-10, bilateral trade stood at 64.3 million US dollars.
A high level delegation from Uruguay is exploring the possibility of forging cooperation with India in the wind power sector. Led by Uruguayan Vice President Danilo Astori, the delegation visited Wednesday the plant of RRB Energy Ltd (RRBEL) in Chennai (formally Madras).
Fifteen Spanish flagged fishing vessels will no longer operate in Montevideo because labour claims disputes with crew members can include vessel seizures or significant collateral deposits demands by the Uruguayan justice before they can return to sea.
Argentine Industry Ministry officials assured Wednesday that non-automatic licenses currently being applied to imports “in no way represent an obstacle for our Mercosur partners” and they have been implemented to monitor imports from outside the region.