Business in Uruguay

EENI- School of International Business

Subject: Doing Business in Uruguay - Montevideo. Syllabus:

1. Introduction to the Oriental Republic of Uruguay (South America)
2. The Uruguayan Economy
3. Doing Business in Montevideo
4. The Uruguayan foreign trade
5. Export and import formalities
6. Foreign Direct Investment (FDI) in Uruguay
7. Key Uruguayan Sectors:
   1. Industry
   2. Food products
   3. Information and communication technology
   4. Tourism
   5. Financial services
8. Case Study:
   1. Eastern Forest
   2. Cristalpet
9. Introduction to Spanish
10. Access to the Uruguayan Market
11. Business Plan for Uruguay

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

1. To analyse the Uruguayan economy and foreign trade
2. To evaluate the business opportunities in the Oriental Republic of Uruguay
3. To explore Uruguay's trade relations with the country of the student
4. To know Uruguay's Free Trade Agreements
5. To examine the profile of Uruguayan Companies
6. To develop a business plan for the Uruguayan Market

Sample of the subject - Doing Business in Uruguay:

Description of the Subject: Doing Business in Uruguay

1. The Oriental Republic of Uruguay is a gateway and the geographical centre of the MERCOSUR (295 millions of 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 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. Frontiers of Uruguay: Brazil and Argentina
9. The Uruguayan Population is 3.3 millions of people
10. Area: 176,215 square kilometres
11. Capital: Montevideo
12. The Uruguayan currency is the peso (UYU)
13. The official language is Spanish
14. Uruguay is administratively divided into nineteen departments
15. Abolition of the slavery in Uruguay: 1842
16. African Diaspora in Uruguay: 0.1 millions of people (4% of the Uruguayan population)

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

Uruguay belongs to the Latin American Economic Area of the Western Christian Civilisation

The 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 economic growth (3.5%)
3. The Uruguayan services sector (financial, logistics and transport, and communications) has grown considerably in recent years
4. We must emphasise the significant growth of the information technology (IT), including software development and related services
5. The growth in manufacturing (opening of a pulp mill)
6. The Uruguayan currency is the Peso (UYU). Flexible exchange rate

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

The Foreign Trade of Uruguay.

1. Uruguay is the largest exporter of software per capita in Latin America and third in absolute terms
2. Uruguay is eminently an agricultural export economy
3. The Uruguayan exports rose 2.5%, and imports saw a drop of 8.6%, which led to a positive net external balance compared to 2009.
4. The largest Uruguayan export product is soy (67 million dollars), accounting for 21% of exports from Uruguay
5. The Oriental Republic of Uruguay has diversified its exports destination
6. The main destinations of the Uruguayan exports are the Free Zone of Nueva Palmira, Brazil (15%), Russia (7%), and Argentina (7%)
7. Brazil is the second-largest export destination being the main products exported barley malt (17.6%) and whole milk powder (11.5%)
8. The Uruguayan private sector has grown at a sustained speed
9. The Foreign direct investment (FDI) reached a historical record

The Uruguayan Free Zones.

1. The promotion and development of the free zones to encourage the foreign direct investment (FDI), 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

Uruguay's Organisations and Free Trade Agreements (FTA).

1. MERCOSUR
2. The Oriental Republic of Uruguay has bilateral Free Trade Agreements with Mexico, the European Union, India, and the Gulf Cooperation Council (GCC)
3. Latin American Integration Association (ALADI)
4. Union of the South American Nations (UNASUR)

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