DistantNews
Support us
Uruguay announces first EU business forum to boost Mercosur deal
🇵🇾 Paraguay /Economy & Trade

Uruguay announces first EU business forum to boost Mercosur deal

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News From a news agency New plan
  • Uruguay's Foreign Minister Mario Lubetkin outlined the country's Mercosur presidency priorities, focusing on the provisional trade agreement with the European Union.
  • Uruguay plans to host the first Mercosur-EU Business Forum and the first 'Council of the Interim Trade Agreement' to translate the deal into tangible benefits.
  • The country also aims to advance global trade dialogues with India, Vietnam, Japan, China, Canada, and the UAE, while improving internal Mercosur mechanisms and regional cooperation.

Uruguay is charting a course for its Mercosur presidency with a clear focus on solidifying the bloc's trade relationship with the European Union. Foreign Minister Mario Lubetkin announced that capitalizing on the provisional trade agreement with the EU is a top priority, calling it the most significant achievement in Mercosur's 35-year history.

the most transcendent achievement in the 35 years of history of the South American bloc and contributes to 'rectifying a historical debt' with the private sector.

— Mario LubetkinUruguay's Foreign Minister describing the provisional trade agreement with the EU.

To maximize the agreement's benefits, Uruguay plans to host key events. The first Mercosur-EU Business Forum is scheduled for December 2, aimed at engaging the private sector and ensuring the deal yields practical advantages. This will be followed by the inaugural 'Council of the Interim Trade Agreement' on December 3, both events taking place during the Mercosur summit in Montevideo.

focused on the private sector

— Mario LubetkinDescribing the purpose of the Mercosur-EU Business Forum.

Lubetkin addressed the main hurdle remaining for the treaty: the quota system. He expressed confidence in reaching a consensus among South American nations based on historical export data, cautioning against exacerbating existing economic disparities. Beyond Europe, Uruguay is signaling its commitment to global engagement by pursuing dialogues with India, Vietnam, and Japan, and seeking to conclude ongoing negotiations with Canada and the United Arab Emirates. The country also aims to foster dialogue with China.

tangible advantages

— Mario LubetkinReferring to the expected benefits of the trade agreement for the private sector.

Domestically within Mercosur, Uruguay advocates for a flexible approach, allowing members to progress at different paces while addressing urgent needs. The rapid implementation of the second phase of the Mercosur Structural Convergence Fund (Focem) is highlighted as crucial for mitigating economic asymmetries. Uruguay also plans to enhance regional security cooperation by improving information exchange systems and resuming collaboration with Interpol and Eurofront to combat cross-border crime. Furthermore, Uruguay will share its Plan Ceibal experience to promote regional discussions on artificial intelligence in education.

historical bilateral export record

— Mario LubetkinProposing a basis for consensus on the quota system for the EU trade deal.
DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog