China-LAC Summit in Punta del Este

By Pittaluga Abogados

Uruguay was honored to host and organize the 11th edition of the summit, that took place in the city of Punta del Este from 30 November to 2 December, bringing together five hundred companies from different sectors and industries in China, Latin America and the Caribbean, with the objective of strengthening business relations through commercial exchange. According to the Uruguay authorities, such honor is token of the long-standing trust and understanding that exists between the two nations.

"The country’s significant growth during the past decade relates to its incremental rise in investments. FDI (Foreign Direct Investment) in Uruguay has reached record levels taking the country to a position amongst the top FDI destinations in terms of GIP within South America", stated the official web site of the event. "Additionally, Uruguay is one of the leading countries in what concerns profits reinvestment in Latin America. This is evidence of the reliability that the country has proven to investors, which is based on profitability rates and an advantageous business atmosphere".

The China-LAC Summit is a yearly event organized by the China Council for the Promotion of International Trade (CCPIT) and the Inter-American Development Bank (IDB). Since its creation in 2007, China–LAC is the most important entrepreneurial event between companies from China and the Latin American and Caribbean countries.