Uruguay, China to negotiate free trade agreement
Uruguay would like to boost beef exports to China
14 July 2022
1 minute read
Uruguay and China have decided to enter formal negotiations on a free trade agreement, reported Reuters, citing Uruguayan President Luis Lacalle Pou on Wednesday.
Teams from the two countries will meet in coming days to start talks, Lacalle Pou said from Uruguayan capital Montevideo, adding that the country's aim is to sell and trade goods, raw materials and technology.
Lacalle Pou has long pushed for an agreement with China to boost exports of key products such as beef.
The president said last year that Uruguay would negotiate a trade agreement with China on its own, leading to tension with Mercosur members Argentina, Brazil and Paraguay.
Mercosur is a South American trade bloc made up of Argentina, Brazil, Paraguay and Uruguay to generate business and investment opportunities.
If an agreement is reached with Beijing, Uruguay would join neighbors Chile and Peru in signing bilateral free trade pacts with China.
China is Uruguay's main trading partner, buying a considerable percentage of its exports, including beef, its biggest export product.
Source: Reuters
