The U.S.-Uruguay commercial
relationship has developed significantly in the past several years. In 2002,
Uruguay and the United States created a Joint Commission on Trade and
Investment (JCTI) to exchange ideas on a variety of economic topics. The
Commission served as an important mechanism for the two countries to work to
enhance and broaden their trade relationship, and facilitated the successful
negotiation of the United States - Uruguay Bilateral Investment Treaty (BIT),
which entered into force on November 1, 2006. The United States and Uruguay
signed the United States - Uruguay TIFA on January 25, 2007. The TIFA
established the United States - Uruguay Trade and Investment Council (TIC) and
serves as a mechanism to further deepen the trade and investment dialogue. On
October 2, 2008, both governments signed protocols to the TIFA covering substantive
commitments in the areas of trade facilitation and public participation in
trade and environment.
The TIFA contains an annex that established a
work program calling for the two governments to address such matters as
liberalization of bilateral trade and investment, intellectual property rights,
regulatory issues, information and communications technology and electronic
commerce, trade facilitation, trade and technical capacity building, trade in
services, government procurement, and cooperation on sanitary and phytosanitary
measures.
The annex provides for the TIC to add other
matters to the work program. In implementing the TIFA, both parties reconfirmed
their commitment to expand economic opportunities between Uruguay and the
United States while simultaneously coordinating their efforts to promote
greater trade liberalization through the World Trade Organization (WTO). +Hillary Clinton +NATO +Peace Palace
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