U.S., Uruguay conclude bilateral investment treaty
The United States and Uruguay signed a bilateral investment treaty this week.
“This agreement levels the playing field and ensures that Americans are treated equitably by increasing protection for U.S. investments in the this South American nation,” said deputy U.S. trade representative Peter F. Allgeier in a statement Monday. “This agreement will also deepen our economic relationship with Uruguay, thus encouraging two-way trade.”
These types of agreements often lead to free-trade agreements between the United States and these countries.
Total U.S./Uruguay trade was $582 million in 2003. U.S. goods exported to Uruguay in 2003 totaled $326 million, up 57 percent from 2002, and included machinery, electric machinery, optic and medical instruments, perfumery, cosmetics and plastic. U.S. goods imported from Uruguay in 2003 were $256 million, and included meat, hides, dairy, eggs, honey, fish, and seafood.