Uruguay’s President Luis Alberto Lacalle Pou is embarking on a significant state visit to China from November 20 to 24, marking a pivotal moment in Sino-Uruguay relations. Invited by Chinese President Xi Jinping, this visit goes beyond standard diplomatic formalities.
At the core of President Lacalle Pou’s agenda is the ambition to deepen economic and diplomatic ties between Uruguay and the Chinese mainland. Both nations are focused on building a relationship based on mutual benefits, respect, and win-win cooperation.
A major highlight of the visit is the negotiation of a Free Trade Agreement (FTA). Discussions on the FTA were initiated last year, following a consensus between President Xi and Uruguay’s former President Tabare Vazquez in 2016. Last July, both Montevideo and Beijing announced the completion of joint feasibility studies for the agreement, setting the stage for formal talks.
This visit also coincides with the 35th anniversary of diplomatic ties between China and Uruguay. China is Uruguay’s largest trading partner, accounting for 28% of its merchandise exports in 2022. Trade between the two countries reached $7.44 billion in 2022, a 14.9% increase from the previous year. Notably, China imported $4.46 billion worth of goods from Uruguay, up 23% compared to 2021.
Uruguay’s exports to China are primarily agricultural, including beef, soybeans, and wool. Uruguay stands as China’s third-largest supplier of beef and fourth-largest supplier of soybeans. Over the past 35 years, bilateral trade has skyrocketed 60-fold, showcasing the strength and growth of this symbiotic relationship.
The diplomatic relationship was significantly enhanced in 2016 when both countries upgraded their ties to a strategic partnership. Uruguay made history as the first Mercosur member to sign a memorandum of understanding with China under the Belt and Road Initiative (BRI), further solidifying their economic collaboration.
As President Lacalle Pou visits China, the focus remains on leveraging complementary economic dynamics to foster continued growth and cooperation between the two nations.
Uruguay’s President Luis Alberto Lacalle Pou is embarking on a significant state visit to China from November 20 to 24, marking a pivotal moment in Sino-Uruguay relations. Invited by Chinese President Xi Jinping, this visit goes beyond standard diplomatic formalities.
At the core of President Lacalle Pou’s agenda is the ambition to deepen economic and diplomatic ties between Uruguay and the Chinese mainland. Both nations are focused on building a relationship based on mutual benefits, respect, and win-win cooperation.
A major highlight of the visit is the negotiation of a Free Trade Agreement (FTA). Discussions on the FTA were initiated last year, following a consensus between President Xi and Uruguay’s former President Tabare Vazquez in 2016. Last July, both Montevideo and Beijing announced the completion of joint feasibility studies for the agreement, setting the stage for formal talks.
This visit also coincides with the 35th anniversary of diplomatic ties between China and Uruguay. China is Uruguay’s largest trading partner, accounting for 28% of its merchandise exports in 2022. Trade between the two countries reached $7.44 billion in 2022, a 14.9% increase from the previous year. Notably, China imported $4.46 billion worth of goods from Uruguay, up 23% compared to 2021.
Uruguay’s exports to China are primarily agricultural, including beef, soybeans, and wool. Uruguay stands as China’s third-largest supplier of beef and fourth-largest supplier of soybeans. Over the past 35 years, bilateral trade has skyrocketed 60-fold, showcasing the strength and growth of this symbiotic relationship.
The diplomatic relationship was significantly enhanced in 2016 when both countries upgraded their ties to a strategic partnership. Uruguay made history as the first Mercosur member to sign a memorandum of understanding with China under the Belt and Road Initiative (BRI), further solidifying their economic collaboration.
As President Lacalle Pou visits China, the focus remains on leveraging complementary economic dynamics to foster continued growth and cooperation between the two nations.
