Germany, Uruguay Ink DTA
Wednesday, March 10, 2010
It has recently emerged that Germany and Uruguay have signed a bilateral double
taxation agreement, thereby strengthening economic ties between the two countries.
During the third stage of his visit to South America, Germany’s Foreign
Minister Guido Westerwelle met with the country’s new President, José
Mujica, and his Uruguayan counterpart Luis Almagro in Montevideo, and announced
his intention to strengthen the political, cultural and economic ties with Uruguay.
Almagro underlined the fact that Germany was one of Uruguay’s closest
partners within the European Union, as a key buyer of Uruguayan exports. Almagro
also emphasized his intention to continue the course of economic stabilization
and growth for his country.
Uruguay managed to quickly overcome the effects of the recent global economic
and financial crisis, by international comparison. According to the German Foreign
Ministry, sustained high growth and a highly trained population has made
Uruguay an attractive location for German businesses. The areas of renewable
energy, infrastructure, farming and tourism are of particular interest to the
German economy, it notes.