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In a major milestone for its foreign policy and economy, Uruguay has been formally accepted into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This acceptance makes Uruguay one of the few South American nations to join the massive trade bloc, which includes major economies in Asia and the Americas. The move signals Uruguay’s commitment to free trade and its desire to integrate further into global value chains, independent of the more protectionist stance of its neighbors.
The accession to the CPTPP is expected to open new markets for Uruguayan beef, dairy, and software exports, providing a significant boost to the country’s GDP. Government officials celebrated the decision as a validation of Uruguay’s institutional stability and open economic policies. Negotiations had been ongoing for some time, with Uruguay having to demonstrate compliance with high standards regarding labor rights, environmental protection, and intellectual property.
However, the move has caused some friction within Mercosur, as the bloc generally requires members to negotiate trade deals collectively. Uruguay has long argued for greater flexibility, and this success may set a precedent for other members or lead to tensions within the South American bloc. Nevertheless, for Montevideo, the focus is now on ratifying the agreement and preparing local industries for the new opportunities and competition that membership brings.
Source: https://patrialatina.com.br/uruguai-e-aceito-na-parceria-transpacifica/
