China formalized the start of negotiations for an FTA with Uruguay

China positively valued initiating a Free Trade Agreement (FTA) with Uruguay, according to the spokesman for the Ministry of Commerce, Shu Jue Thing, at a press conference on Thursday. He assured that the joint feasibility study was successfully concluded, from which the countries began the negotiations.

is the This is the first time that both countries have reached this stage of the trade negotiation despite the fact that they have been in talks since October 2016. The Chinese Ministry of Commerce added that the country is open to negotiating with other members of Mercosur, and deepening its relations.

“What began in September 2021 has concluded and, with satisfaction, we can say that this conclusion is positive, that we have reached an agreement that is beneficial for both countries and now, yes, formally begin the negotiation for a Free Trade Agreement”, President Luis Lacalle Pou said at a press conference last Wednesday.

The FTA with China “will mean opportunity, satisfaction and work,” and Uruguay will seek to “try to market products, raw materials and technologies,” said Lacalle Pou.

The feasibility study was completed a week before the Mercosur presidents’ summit in Asunción, in time for the issue to enter the agenda.

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