MONTEVIDEO – Uruguay intends to strengthen its trade relations with China through a Free Trade Agreement (FTA), said Antonio Carambula, the executive director of the Uruguay XXI – the investment and export promotion institute.
That announcement comes as the Uruguayan government embarks on a state visit to China from Wednesday until Oct. 21 and will be led by Uruguayan President Tabare Vazquez, according to the website of the Office of the President of Uruguay.
Tabare’s delegation, which includes ministers of his government, will express its willingness to start negotiations toward an FTA with China, Carambula said.
“The free trade agreement allows us to defend the presence of our products in the markets and will provide easier market access, it has become key that we start working to develop a free trade agreement with China, our first partner,” said the official.
“Last week we took an important step by signing the free trade agreement with Chile” and this FTA “clearly marks” the will of the Uruguayan government regarding trade relations, Carambula told local radio station Radio Uruguay.
China is Uruguay’s first export destination, with sales reaching $2.1 billion in 2015 with different products such as beef, fish, milk, and medicine, among others, according to a Uruguay XXI report.
Carambula also noted that during the visit of the Uruguayan delegation to China, the new government infrastructure plan will be presented and Uruguayan President Tabare Vazquez will open the 10th edition of the China-LAC Business Summit.
The delegation to China includes foreign minister Rodolfo Nin Novoa; economy and finance minister Danilo Astori; the Minister energy and mining minister Carolina Cosse; and the head of Livestock, Agriculture and Fisheries, Tabare Aguerre.