President Tabare Vazquez said on 1 August that Uruguay planned to sign a free trade agreement with Chile next month, expanding south-to-south cooperation and regional integration.
During a Cabinet meeting in Carmelo, Vazquez said the agreement would address trade and tax issues, such as double taxation, adhering to his administration’s plan.
Foreign Minister Rodolfo Nin Novoa said the trade agreement would aim to “deepen” bilateral relations by ending “double taxation” on investors’ income from capital gains, interest, royalties and assets.
The goal is to help investors avoid paying taxes on their activities in both Uruguay and Chile, Nin Novoa said.
The agreement will incorporate new rules for trade in goods and services, as well as covering health regulations and other trade matters.
E-commerce, intellectual property, cooperation, labor and gender rights will be addressed in the free trade agreement.
Date: August 1, 2016