Trade and Business in Uruguay

The aims of the subject “Foreign Trade and Business in the Oriental Republic of Uruguay” are the following:

1. To analyze the Uruguayan Economy and International Trade;
2. To know the business opportunities in the Oriental Republic of Uruguay;
3. To explore the Uruguayan trade relations with the country of the student;
4. To know the Uruguayan Free Trade Agreements;
5. To examine the profile of Uruguayan Companies;
6. To develop a business plan for the Uruguayan Market.

The Subject “Foreign Trade and Business in Uruguay” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Masters (MIB): International Business, Foreign Trade.

Doctorate (DIB): American Business, World Trade.

Learning materials in (or Uruguay Uruguai Uruguay).

1. Credits of the subject “Foreign Trade and Business in Uruguay”: 1 ;
2. Duration: one week.

Uruguayan Preferential Access and Free Trade Agreements.

1. Uruguay and the Latin American Economic Area;
2. MERCOSUR
   1. MERCOSUR Free Trade Agreements (FTA): Andean Community, Mexico, Peru, Chile, India, Egypt, Israel, European Union, Southern African Customs Union (SACU).
3. Mexico-Uruguay Free Trade Agreement (FTA);
4. Uruguay-Gulf Cooperation Council (GCC) Free Trade Agreement;
5. Andean Community (associate member);
6. Latin American Integration Association (ALADI);
7. Union of South American Nations (UNASUR);
8. Latin American and Caribbean Economic System (SELA);
9. Protocol Relating to Trade Negotiations Among Developing Countries (PTN);
10. Global System of Trade Preferences among Developing Countries (GSTP) - accession process;
11. Central American Integration System (SICA) (observer country).

1. World Trade Organization (WTO)
   1. WTO Agreement on Sanitary and Phytosanitary Measures (SPS);
   2. WTO General Agreement on Trade in Services (GATS);
   3. WTO Agreement on Technical Barriers to Trade (TBT);
   4. WTO Agreement on Preshipment Inspection (PSI);
   5. WTO Agreement on Safeguards (SG);
   6. WTO Trade Facilitation Agreement (TFA).
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).
3. TIR Convention (Road Transport, IRU).

American Trade and Economic Organizations:

1. Economic Commission for Latin America and the Caribbean (ECLAC);
2. Forum for East Asia-Latin America Cooperation (FEALAC);
3. Summit South American-Arab Countries (ASPA);
4. Inter-American Development Bank (IDB);
5. Organization of American States (OAS);
6. Africa-South America Summit (ASA);
7. Community of Latin American and Caribbean States (CELAC)
   1. European Union-CELAC Summit.

Global Economic Organizations:

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. World Intellectual Property Organization (WIPO).
2. World Bank (WB);
3. International Monetary Fund (IMF);
4. Community of Portuguese Speaking Countries (observer country).

The Oriental Republic of Uruguay

1. Uruguay is a gateway and the geographical centre of the MERCOSUR (295 million people);
2. Uruguay is the political and financial centre of South America;
3. The Headquarters of the MERCOSUR and the Latin American Integration Association (ALADI) are in Montevideo;
4. Uruguay has a long political and economic stability;
5. According to “The Economist,” Uruguay is considered as the most democratic Latin American Economy;
6. Uruguay has an established a political party system and is the first country in Latin America, along with Chile, with the less Corruption Perceptions Index (“Transparency International”);
7. According to the United Nations Development Programme, Uruguay is the third country in Latin America (after Argentina and Chile), with the highest Human Development Index; 98% of the Uruguayan population has access to drinking water and electricity;
8. Borders of Uruguay: Brazil and Argentina;
9. Uruguayan Population: 3.3 million people;
10. Area of Uruguay: 176,215 square kilometers;
11. Capital of Uruguay: Montevideo;
12. Uruguayan currency is the peso (UYU);
13. The official language of Uruguay is Spanish;
14. Uruguay is administratively divided into nineteen departments;
15. Abolition of Slavery in Uruguay: 1842;
16. African Diaspora in Uruguay: 0.1 million people (4% of the Uruguayan population).

The main religion in Uruguay is Christianity (2.3 million Catholics).

Uruguay belongs to the Latin American Economic Area of the Western Civilization.

Uruguayan Economy

1. The economic activity has augmented considerably within a context marked by the inflation under control and public sector accounts in line with the objectives of the Government of the Oriental Republic of Uruguay;
2. Twelve years of the economic growth (3.5%);
3. The Uruguayan services sector (financial, logistics and transport, and communications) has grown considerably in the recent years;
4. We must emphasize the significant information technology (IT) growth, including the software development and related services;
5. Manufacturing growth (opening of a pulp mill);
6. Uruguayan currency: Peso (UYU). Flexible exchange rate.

Montevideo, the capital of Uruguay, is geographically the main Maritime cargo route of the MERCOSUR, the integration axis with Argentina, Brazil, and Paraguay to be within the influence area of almost 200 million people, with the highest gross domestic product per capita in Latin America.

Foreign Trade of Uruguay.

1. Uruguay is the largest software exporter per capita in Latin America and third in absolute terms;
2. Uruguay is eminently an agricultural export economy;
3. Uruguayan exports rose 2.5%, and imports saw a drop of 8.6%, which led to a positive net external balance;
4. The largest Uruguayan export product is soy (67 million dollars), accounting for 21% of the exports from Uruguay;
5. The Oriental Republic of Uruguay has diversified its exports destination;
6. Main Uruguayan export destinations are the Free Zone of Nueva Palmira, Brazil (15%), Russia (7%), and Argentina (7%);
7. Brazil is the second-largest export destination, the main exported products barley malt (17.6%) and whole milk powder (11.5%);
8. Uruguayan private sector has grown at a sustained speed;
9. Foreign direct investment (FDI) reached a historical record.

Uruguayan Free Zones.

1. The promotion and development of free zones to the foreign direct investment (FDI) encouragement, exports, employment, and international economic integration have been declared of national interest by law;
2. There are now free zones in Colonia, Nueva Palmira, Montevideo, Florida, Rivera, Black River, New Helvetia, and Freedom.

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(c) EENI Global Business School (1995-2022)
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