MONTEVIDEO, July 14 (NNN-AGENCIES) — Uruguay and China have decided to enter formal negotiations on a free trade agreement, Uruguayan President Luis Lacalle Pou told a press conference.
Teams from the two countries will meet in coming days to start talks, Lacalle Pou said 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. — NNN-AGENCIES
