Strong Bilateral Relations Between Germany and Uruguay
Uruguay a strong force for free trade agreementsOctober 06th, 2022
Uruguay and Germany continue their strong bilateral relationship with the development of a new free trade agreement (FTA) that Uruguay is a strong advocate for. The two countries have traded with each other for more than 160 years. The two countries share viewpoints on certain political issues, such as human rights and rules-based trade.
Uruguay and Germany are developing the FTA as parts of the European Union (EU) and Mercado Común del Sur (Mercosur), and it will encompass all the party countries. The FTA will benefit the countries of Mercosur in particularly the agricultural sector.
Along with the FTA, there will be a plan for infrastructural development in regard to industries. This can improve Uruguay’s train tracks, among other things. Another benefit that the plans outside of the FTA has is to aid Uruguay in the process of changing to a more sustainable agriculture, where Germany and Uruguay have common interests. Both countries advocate for a green economy and sustainable development.
The president of Uruguay says the FTA is important to foster a more equitable and balanced trade architecture worldwide, pointing out that dialogue is an important factor for an inclusive and sustainable development at the global level.