Milton E. Segarra, Secretary
of Economic Development and Trade for Puerto Rico arrived
yesterday on a busy 3-day visit which included interviews
with President Batlle, and the Minister of Economy and Finance,
The main thrust of Secretary
Segarra´s visit is to explore and identify a variety
of growth opportunities for trade between Puerto and Uruguay.
Mr. Segarra pointed out
that current commercial trade between Puerto Rico and Uruguay
amounts to 19 million dollars. He added that the balance
of trade is clearly in Uruguay’s favor, since 17 million
represent Uruguayan exports to Puerto Rico. Beef products
make up the bulk Uruguayan exports at 70% of the total,
while steel and iron constitute the rest.
On the other hand, Uruguay´s
imports from Puerto Rico are mainly pharmaceutical products
(33%) and steel and iron (22%).
Mr. Segarra indicated that trade between Uruguay and Puerto
has been increasing steadily, and he expects new growth
as other areas of commercial exchange are identified such
as machinery, parts and accessories, medical products, telephone
equipment, paper, tobacco, and clothing.
This follows a bilateral
cooperation agreement aimed at economic and cultural development,
education, tourism and environment, signed between the two
countries during President Batlle´s visit to Puerto
Rico just a few months ago.
Mr. Milton Segarra at press
Mr. Segarra with Ambassador
Ms. María Pía Labarca Iturrando and
Secretary Milton Segarra meeting
with President Jorge Batlle and Ambassador Silverstein