Three Korean jiggers which normally spend off-season time in Montevideo have moored in the port of Fray Bentos on the River Uruguay, as part of the de-centralization process launched by Uruguayan port authorities.
One of the world’s biggest tobacco companies is launching a claim against Uruguay for considering the country’s legislation commercially damaging to the company. Philip Morris corporation has filed a claim at the International Centre for Settlement of Investment Disputes (ICSID), a World Bank branch.
Uruguay and Argentina have received interest from 39 companies to build infrastructure for a floating LNG terminal, a project they are fast-tracking to start operations by the end of 2013, a project adviser said Tuesday.
Uruguay is the most peaceful country in Latin America followed by Costa Rica and Chile according to the latest edition of the Global Peace reported released Wednesday by the Institute for Economy and Peace.
Uruguay ratified to visiting UK Foreign Minister for Latin America Jeremy Browne, Montevideo’s “continental solidarity” policy with Argentina regarding the Falklands/Malvinas dispute but also described relations with the UK as “extremely cordial”.
US agricultural processor Archer Daniels Midland Co said this week it was building a grain export terminal in Nueva Palmira, Uruguay, capable of loading large bulk shipments of corn, wheat, soybeans and soy-meal.
For years LAN Chile has dominated the Chilean airways, but recent reports suggest Uruguayan based airline Pluna is hoping to open up new domestic flights within Chile, increasing the competition already offered by Sky airlines and PAL airlines.
Uruguay’s sound economic and stable political environment were underlined by the country’s Deputy Minister for Public Works and Transport during a high level business forum to attract investors to Latin American which was held in the capital of South Korea, Seoul.
Current trade negotiations between the European Union and Mercosur dominated the opening speeches at of Eurolat (Europe/Latin America Parliaments) Fifth Plenary Session which is taking place in Montevideo.
The following piece by Jude Webber writing for the Financial Times explains the different approach by the two neighboring countries to the windfall earnings of the commodities boom.