Us Uruguay Free Trade Agreement

Uruguay has a nominally progressive government that came to power because of its criticism of neoliberalism. However, part of the current government of frente Amplio has come out in favour of seeking economic agreements of the FTA type. There is a persistent disagreement within the government over the possible signing of a free trade agreement with the United States. Uruguay is the recent success of the George W. Bush administration`s crusade to sign bilateral trade agreements with Latin American countries, following the failure of the Free Trade Area of the Americas (SAA) projects. However, the board meeting ended without a decision. AlADI is a trade association based in Montevideo, which brings together ten South American countries as well as Cuba, Mexico and Panama. Uruguay has many bilateral trade agreements of different scope with LAIA partners. Under the LAIA Economic Agreements, Uruguay enjoys and grants special preferential access to trade with Bolivia, Chile, Colombia, Cuba, Ecuador, Mexico, Peru and Venezuela. LaIA`s general regional tariff preference mechanism (PAR, with its Spanish acronym) applies to goods traded between all member states and reduces the percentage of applicable duties. “This is a new step that the Uruguayan and U.S. governments have taken to strengthen bilateral trade and investment relations,” Uruguayan Economy Minister Danilo Astori said Thursday after the signing of the agreement. The agreement between these two organizations (Acuerdo de Complementación Económica No.

59) entered into force in October 2004 with the aim of liberalizing 80% of trade between the blocs. In December 2000, the founding countries of MERCOSUR (Argentina, Brazil, Paraguay and Uruguay) signed a framework agreement establishing a free trade area between MERCOSUR and the South African Customs Union (Botswana, Lesotho, Namibia, South Africa and Swaziland). A preferential trade agreement entered into force in 2016. In 2019, Mercosur also made progress in negotiations with other partners, such as Korea, Canada and Singapore, with a view to concluding trade agreements with markets that represent strong trade potential for both the Bloc and Uruguay. The agreement stresses the importance of cooperation to ensure the success of the World Trade Organization (WTO) Doha Round of negotiations, which includes important negotiations on market access and the elimination of customs barriers for agricultural products and export subsidies. Contracts that contain only “framework clauses”, such as. B those relating to cooperation in the field of investment and/or a mandate for future negotiations on investment issues. . .

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