Uruguay opens up to the Pacific Alliance

By Pittaluga Abogados

Uruguay seeks to advance in what regards its bilateral trade agreements, as it continues to pursue treaties between the Mercosur and other blocs as well. In such context, the country will be subscribing, in October, a Free Trade Agreement (FTA) with Chile.

Such FTA between Uruguay and Chile is meant to generate a more agile trade, and also to eliminate tariff barriers that exist between the two countries. Moreover, this is an opportunity for strengthening Uruguay’s trading capacity, and also a way of opening up and invigorating its economy.

The agreement includes aspects such as public acquisitions, issues relative to intellectual property and environment, and topics concerning gender, e-commerce and workers’ rights. In line with this FTA, Uruguay was invited to turn the various trade agreements that it has currently in place with Colombia and Peru into Free Trade Agreements, in addition to the possibility of an enhanced update of its treaty with Mexico.

Parallel to the significance of this bilateral rapprochement with member countries of the Pacific Alliance like Chile, Peru, Colombia and Mexico, this instance also entails the promotion of a trade agreement to be subscribed by the Southern Common Market (Mercosur) with the European Union (EU), the Pacific Alliance, and the Trans Pacific Partnership (TPP).