🚀 In a significant move for international diplomacy and trade, Uruguayan President Luis Alberto Lacalle Pou is embarking on a state visit to the Chinese mainland from November 20 to 24. Invited by President Xi Jinping, this visit is set to deepen the already strong ties between the two nations.
🤝 The heart of this diplomatic endeavor lies in strengthening economic and diplomatic bonds, emphasizing shared benefits, mutual respect, and win-win cooperation. A key highlight of the visit is the negotiation of a free trade agreement (FTA), a topic of intense discussion during high-stakes meetings between Presidents Lacalle Pou and Xi Jinping.
📈 Since the initial talks started last year, following a consensus reached in 2016 between President Xi and his former Uruguayan counterpart, Tabare Vazquez, both nations are gearing up to finalize the FTA. Last July, Montevideo and Beijing celebrated the completion of joint feasibility studies, paving the way for formal agreements.
🎉 This visit also marks the celebration of the 35th anniversary of China-Uruguay diplomatic ties. China stands as Uruguay's largest trading partner, accounting for 28% of its merchandise exports in 2022. According to China's General Administration of Customs, trade between the two countries reached $7.44 billion in 2022, a 14.9% increase from the previous year. Additionally, China imported $4.46 billion worth of goods from Uruguay, marking a 23% rise.
