Uruguay and China took the first step towards a possible free trade agreement (FTA) with the announcement of a new feasibility study on 7 September, despite bilateral deals being prohibited by Mercosur – the South American trade bloc that comprises Uruguay, Argentina, Brazil and Paraguay.
Uruguayan president Luis Lacalle Pou announced at a press conference that China has formally agreed to move forward in FTA negotiations with Uruguay. The next step will be a study on the implications of the agreement, with the findings expected before the end of the year. Read More.
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