Uruguay does not sign Mercosur declaration because of China negotiations
Uruguay’s President, Luis Alberto Lacalle Pou, expressed his concerns about the protectionist measures within Mercosur and informed his fellow bloc members that Uruguay would continue its negotiations with China.
As a result of this disagreement, Uruguay refrained from signing the joint declaration at the 62nd Mercosur Summit. This marks the fourth time the country has chosen not to ratify the document.
Uruguay is currently engaged in bilateral negotiations with China, a move that is opposed by the other bloc members—Brazil, Argentina, and Paraguay—who believe it weakens Mercosur and puts the group at a disadvantage in trade negotiations with other economic blocs.
Uruguayans have expressed concerns about their trade imbalance within the bloc.
In 2022, Brazil’s exports and imports surpassed those of all other Mercosur countries, reaching US$312.6 billion in exports and US$253.8 billion in imports.
The trade balance remains positive, amounting to US$58.7 billion.
Argentina has a positive trade balance of USD 14.9 billion, while Uruguay stands at US$494 million. Paraguay, on the other hand, faces a negative trade balance of US$5.6 billion.
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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief