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Uruguay to expand trade cooperation through Azerbaijan

15 September 2015 11:30 (UTC+04:00)
Uruguay to expand trade cooperation through Azerbaijan

By Vusala Abbasova

Uruguay intends to develop trade cooperation with the Central Asia through Azerbaijan, which can act as a bridge thanks to its favorable geographic location.

The importance of bilateral cooperation was mentioned during a business meeting held in Baku on September 14.

Uruguayan Deputy Foreign Minister Luis Cancela Jose highlighted the special significance of Azerbaijan in the plans to expand relations between Uruguay and the counties of the Central Asia.

Jose believes that the expansion of economic and trade relations with Azerbaijan will also provide the grounds to develop trade relations with other countries in the region.

In his opinion, both countries play an important role in the development of their regions despite their small territories.

"I believe that in the near future, our countries can become centers for the development of our regions," he said.

The head of the Azerbaijani Export and Investment Promotion Foundation (AZPROMO) Rufat Mammadov also voiced his opinion about the developing relations between Azerbaijan and Uruguay during the meeting.

Mammadov noted the significant importance of continuing the development of Azerbaijani-Uruguay relations in the trade and economic spheres.

"Such events play an important role in the development of economic relations between the two countries," he added.

During the Baku visit, the Uruguayan delegation was also received by Azerbaijan`s foreign minister Elmar Mammadyarov.

Noting that the cooperation with Latin American countries was among priorities in Azerbaijan`s foreign policy, Mammadyarov said there were useful opportunities for development of cooperation between Azerbaijan and Uruguay.

The sides further stressed the necessity for intensification of high-level reciprocal visits in future.

Jose also noted that Uruguay backs the position of Azerbaijan on the Nagorno-Karabakh conflict, supporting Azerbaijan's territorial integrity.

He said the respect to territorial integrity of states was a key priority in foreign policy of Uruguay.

Minister Mammadyarov noted the efforts to change the borders of states, which have been recognized in international level, by using force is unacceptable, and spoke of Armenia`s aggression against Azerbaijan.

He underlined that Armenian didn`t fulfill the demands of resolutions adopted by the UN Security Council on the conflict.

The trade turnover between Azerbaijan and Uruguay in 2014 was $5.767 million, about 99 percent of which fell on the import of Uruguayan products, according to the State Customs Committee of Azerbaijan.

In January-July 2015, the trade turnover between the countries amounted to only $119,340, which is almost 24 times less than the same period last year ($2.827 million).

Uruguay's economy is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending.

Globally, Uruguay stands at 60 in the ranking of 189 economies on the ease of starting a business, according to the Doing Business 2015 report.

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