Uruguay joins Trans-Pacific Partnership

Uruguay has successfully secured membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), following approval from key member nations including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom, and Vietnam. The announcement was made by Uruguay’s Ministry of Foreign Affairs on its official website. This milestone marks the culmination of efforts initiated under the leadership of former President Luis Lacalle Pou and carried forward by the current administration of President Yamandu Orsi. Foreign Minister Mario Lubetkin emphasized the significance of this achievement, stating, ‘The results are clear: work that transcends governments, in favor of Uruguay’s interests. We are opening opportunities.’ Lubetkin further highlighted that the CPTPP accounted for an average of nine percent of Uruguay’s total merchandise exports between 2022 and 2024, underscoring the economic importance of this partnership. Uruguay’s accession to the CPTPP is expected to enhance its trade relations and provide new avenues for economic growth.