Uruguay maintains strong business ties with Latin America, the United States, China and Europe, but it is also seeking to build a presence in other markets.
"Our strategy seeks to strengthen ties with Asia and the Middle East, without neglecting the strong relationship we have with this region. As part of Mercosur; it is also our priority to negotiate an economic and business association deal with the European Union," said Dr. Luis Almagro, the Minister of Foreign Affairs.
Uruguay has demonstrated its interest in building a greater presence in these regions by opening new embassies in Southeast Asia and the Middle East.
"Vietnam is a reference point in Asia and that is why we opened an embassy there. It is an extremely well-respected country that holds a lot of sway over the political and economic decisions made in its region," Almagro said.
Vietnam, Singapore and Hong Kong are Uruguay's primary Asian markets, after China.
Many investments in Uruguay started at the Uruguayan Embassies where the staff "guided" the projects to an advanced point.
"While I was in China, contracts were signed for investments to be made in Uruguay by automakers Chery and Lifan. and discussions began on contracts with the BBCA Group biochemical company and other agricultural chemical...