Philippines Explores Business, Trade and Investment Opportunities With Uruguay 

PTIC – Mexico Director Mr. Vichael Roaring and Vice Consul Miguel Hornilla with MACC – Uruguay President, Mr. Diego Martinez, and MACC – Uruguay Staff (Buenos Aires PE Photo)

MONTEVIDEO, URUGUAY 25 March 2022 – The Philippine Embassy in Buenos Aires and the Philippine Trade and Investment Center (PITC) in Mexico, in cooperation with the Uruguay chapter of the Mercosur – ASEAN Chamber of Commerce (MACC), builds on the fruits of the historic visit of the ASEAN Committee in Buenos Aires (ACBA) in November 2021 and explored bilateral trade and investment opportunities in a series of meetings held on 16 to 18 March 2022 in Montevideo, Uruguay.

The Philippine delegation, composed of PTIC-Mexico Director and Commercial Counsellor for Latin America, Mr. Vichael Roaring, and Philippine Embassy in Buenos Aires Vice-Consul Miguel Hornilla, met with information technology (IT) companies, engineering firms, and seafood importers, identifying strong potential for cooperation.

Uruguay’s fast and nimble economy, transparency, and ease of doing business have made it a magnet for foreign investors seeking to penetrate the broader South American market. With the face-paced growth of Uruguay’s IT services sector, the current gap in the country’s qualified and highly-skilled workers opens opportunities for Filipino professionals, especially as Uruguay embraced remote office arrangements.

Philippine tuna and bananas were also identified as items of interest for Uruguay. While its domestic market may be small, Uruguay’s strategic geographic location and high level of confidence among investors make it a natural hub for foreign goods to enter the Mercosur market.

Following the meetings, MACC has also announced its intention to organize a business mission to the Philippines in November 2022. It will be the first of such a visit from Uruguay since the establishment of its diplomatic relations with the Philippines.

For more information, visit http://buenosairespe.dfa.gov.ph or https://www.facebook.com/PHinArgentina/. END

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