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.
Uruguay started marketing a sale of 10-year Samurai bonds guaranteed by the Japan Bank for International Cooperation, according to reports in the Montevideo and Tokyo financial press.
Foreign Office Minister for Latin America Jeremy Browne will be visiting Uruguay from 20-21 May where he will be meeting government officials and key business people to strengthen ties between UK and the Mercosur member.
Brazil announced it was imposing non automatic import licences on synthetic fibre blankets from Paraguay, Uruguay and China, according to an official communiqué from the Brazilian Ministry of Development, Industry and Foreign Trade released Tuesday.
Support for Uruguayan president Jose Mujica dropped to 41%, nine percentage points less than last March and 34 points down from when he took office in March 2010, according to an Interconsult public opinion poll published Monday in one of Montevideo’s dailies.
The administration of Uruguayan president Jose Mujica suffered a major setback over the weekend and could experience a further showdown on Thursday when members of the ruling coalition vote in Parliament the annulment of an Amnesty or Crimes expiration law which impedes the investigation of human rights violations committed during the country’s military dictatorship (1973/1985).
Uruguay which does not harvest transgenic rice has been consolidating as a growing European Union supplier and is a traditional provider for Mexico and Middle East countries such as Iran and Iraq.
Activities in Uruguay’s private bank branches were partially altered Thursday following the killing earlier in the week of a security guard during a robbery attempt. This was the seventh bank robbery since the beginning of the year and triggered a controversy between the banks and the Ministry of Interior.