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Bilateral cooperation and commerce

Article - September 12, 2011
Uruguay’s Minister of Foreign Affairs discusses his country’s potential for greater trade and investment
In what areas would you like to see more cooperation between Uruguay and the U.S.?

I believe it’s mostly in areas like science and technology where both countries must work together and where Uruguay is highly prepared to receive new expertise, especially given our human resources.

We’ve worked on strengthening mechanisms of dialogue with U.S. institutions of cooperation, with departments, institutes, and universities involved in science and technology. We’re working with them on concrete projects.

Our priorities lie in agriculture and related science, biotech, medicine, computer sciences, energy, and maybe even Antarctic issues.

Trade is also important, as it quantifies and benefits the relationship. I think bilateral trade could easily double in the future.

Do you see Uruguay as the gateway for U.S. companies to Mercosur?

Definitely, and this is something that has been analyzed by thousands of foreign businesses who have settled and set up their base of operations in Uruguay. We’ve got plenty of investment potential for the future but there’s already a lot of foreign investment that’s been consolidated over the past few years. The Chinese are active in our automobile sector, there’s a lot of investment in the energy, agricultural and farming, and forestry sectors.

Uruguay boasts a stable legal base, a business-friendly environment, and it offers a high quality of life, as well as access to the enormous Brazilian and Argentinean markets.