Uruguay has ordered an in depth investigation to all fires in fishing vessels occurred in the port of Montevideo since 2008 following a second incident in two days, Monday and Wednesday early dawn, involving a Korean flagged trawler and a now jigger.
A fire which broke out in a Korean flagged fishing vessel docked in the port of Montevideo and which was still burning early Monday forced the suspension of the official launching of Uruguay’s cruise season.
Uruguay and Argentina announced they had reached a final “scientific” agreement for the joint environmental monitoring of the UPM-Botnia pulp mill in shared waters and which delaying the implementation of a bilateral agreement.
President Jose Mujica confirmed that Uruguay recognizes the Palestinian State and announced the establishment of a representation to begin bilateral relations. The announcement was done during the sixteenth congress of Ferab, Federation of Arab entities in Latinamerica which took place in Montevideo last week.
Nova Scotia bank is close to buying Advent International Corp.’s 54% stake in Uruguay’s Nuevo Banco Comercial, Business News Americas reported on its website.
Uruguayan president Jose Mujica was critical of Argentina’s economic policies and of the recent organization for the funeral of former president Nestor Kirchner. He also admitted it would be “difficult” to reach a definitive agreement with Argentina regarding the long standing UPM-Botnia pulp mill conflict.
Uruguay’s president Jose Mujica admitted his frustration in ruling the South American democracy because between the power of the unions and the huge state bureaucracy it virtually “impedes you from getting anything done”.
As in most of the rest of the world, conflicting visions of the latest global monetary events and its impact on emerging economies have surfaced among Uruguay’s top officials responsible for the running of the economy and finances.
A leading Uruguayan economist warned Wednesday about the risks of being highly dependent on Brazil for foreign trade, particularly since the Uruguayan economy could “be trapped in a competitive edge island”.
Uruguayan lamb and mutton exports during the first 10 months of 2010 fell 40% to 11,628 tons compared with the same period in 2009, while average export prices increased 50% to US$4,766/ton as a result of strong demand.