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Countries and regions
Uruguay
The EU and the "Mercosur" region that includes Uruguay are negotiating an Association Agreement that would include provisions to improve trade. The next round of negotiations is planned for autumn 2012.
In parallel, the EU also maintains dynamic bilateral trade relations with Mercosur countries based on the bilateral Cooperation Agreements.
The Framework Co-operation Agreement between the EU and Uruguay was concluded in 1992.
Since then the bilateral relations have intensified, including in economic terms (the EU is the biggest source of investment in Uruguay).
The follow-up of this agreement entails regular meetings of the EU-Uruguay Joint Commission, including on trade matters. Several Joint Committees have met, most recently in 2012.
Trade picture
- The EU is currently Uruguay's second trading partner after Brazil capturing 15% of its total trade. EU-Uruguay total bilateral trade amounted to €2.6 billion in 2011.
- EU exports to Uruguay are dominated by manufactured products such as machinery, transport equipment, chemicals and other manufactured products.
- EU imports from Uruguay are dominated by agricultural products and raw materials.
- The EU is the most important investor in Uruguay with over 20% of total Foreign Direct Investment and €6.1 billion in stocks of foreign direct investment in the country. In recent years some important EU investments in the country's forestry and paper production sector have had a major impact on overall Foreign Direct Investment levels in Uruguay.
EU-Uruguay "trade in goods" statistics
| Year | EU imports | EU exports | Balance |
|---|---|---|---|
| 2010 | 1.3 | 1.0 | -0.3 |
| 2011 | 1.3 | 1.3 | 0 |
| 2012 | 1.2 | 1.6 | 0.4 |
EU-Uruguay "trade in services" statistics
| Year | EU imports | EU exports | Balance |
|---|---|---|---|
| 2009 | 0.3 | 0.6 | 0.3 |
| 2010 | 0.3 | 0.5 | 0.3 |
| 2011 | 0.3 | 0.9 | 0.5 |
Foreign direct investment
| Year | Inward stocks | Outward stocks | Balance |
|---|---|---|---|
| 2010 | 5.1 | 6.1 | 1.0 |
EU and Uruguay
Uruguay and foreign investment
- The possibility of access to other Mercosur markets plays an important role in the attractiveness of Uruguay as a destination of Foreign Direct Investment - a fact that is reinforced by major investments in the Uruguayan forestry and paper production sector.
The trade relationship between the EU and Uruguay is dynamic. In recent years EU exports of services to Uruguay have been growing fast.
Uruguay enjoys trade preferences with the EU under the Generalised Scheme of Preferences.
Uruguay in Mercosur
A future EU-Mercosur Association Agreement – currently under negotiation – will provide a boost to regional trade integration among the countries of Mercosur and stimulate new opportunities for trade with the EU by removing tariff and non-tariff barriers to trade.
The Mercosur-EU Association Agreement will cover, among other issues, trade in goods and services, investment, intellectual property rights (IPR) aspects including protection of geographical indications, government procurement, technical barriers to trade and sanitary and phytosanitary issues.
Trading with Uruguay
- Rules and requirements for trading with Uruguay
- Importing into the EU from Uruguay
- EU trade defence measures on imports from Uruguay
- Exporting from the EU to Uruguay
- Importing into the EU from Uruguay
- The EU is present on the ground in Uruguay
- Trade relations are part of the EU's overall political and economic relations with Uruguay
- Uruguay is a member of the World Trade Organisation
- Sustainable impact assessment of the EU-Mercosur Association Agreement Negotiations