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Germany is one of Uruguay's main trading partners, says one expert

Germany is one of Uruguay's main trading partners, since it is where most of the investment comes from to the South American country, said the executive director of the Institute of Promotion of Investments and Exports of Goods and Services (Uruguay XXI), Antonio Carámbula.

Montevideo, Nov 7 (EFE) .- Germany is one of Uruguay's main trading partners, since that is where most of the investment comes from to the South American country, the director said today. executive of the Institute of Promotion of Investments and Exports of Goods and Services (Uruguay XXI), Antonio Carámbula.

In this sense, the director said that Uruguay has been 150 years of commercial and political relations with Germany and that are now at their best.

"Many of the German companies are in the global services industry, which are among the main sectors of the country's economy, the most dynamic, "said Carámbula.

Global services are those services not associated with transport or tourism whose development is linked to technologies and new business practices.

"20% of Uruguay's exports are global services, we are talking about more than 2,500 millions of dollars, 20,000 jobs and some 2,000 companies that participate in this system, "added the executive director.

Carámbula's statements were made within the framework of the "Foreign investment from Germany" meeting that took place today in the embassy of the European country in Uruguay and that was attended by Uruguayan Government authorities and representatives of German companies.

Carámbula explained that, while Uruguay currently has "a negative balance" regarding the difference between what is exported and what is imported with Germany, this is due to the fact that "one of the most important inputs" brought from the European country is linked to the development of wind energy.

"We are talking about inputs that collaborate with the growth and infrastructure of the country, they are good signals anyway, "he added.

Meanwhile, the general manager of the Chamber of Commerce and Industry Uruguayan-German, Mischa Groh said that Germany represents "a key investor" for the Uruguayan economy since it has around 40 companies with German capitals installed in the country. South American.

"In 2015, it was the second source of foreign direct investment representing 11% of total investments with a contribution of 384 million euros," added Groh.

For its On the other hand, the Minister of Economy and Finance of Uruguay, Danilo Astori, explained that his country has "a set of special regimes" that allow investment to be stimulated and that have achieved to achieve "increasingly high levels" of attracting investment.

Among the advantages of Uruguay, Astori highlighted the regime of free zones, the regime of airports and ports free and the set of exemptions from the main taxes of the country that "make up a favorable investment climate" so that Uruguay has a good reception.

Likewise, it considered that It is necessary to create institutions and new stimuli with "a specific direction towards certain objectives" that are coherent with the management of economic policy.

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