The United States and
Uruguay announced yesterday their intention to sign the
Bilateral Investment Agreement (BIT) between the two countries
on Friday, November 4, during the Fourth Summit of the Americas
in Mar del Plata, Argentina.
Initially signed October
25, 2004 under the previous Uruguayan administration (see
related article), the agreement
would not be ratified following the presidential elections
of November 2004. Objecting to some of the provisions of
the treaty, the new government opened a round of negotiations
in order to amend certain clauses. "Both countries
negotiated in good faith and in a positive frame of mind,
we've reached an agreement that will benefit both parties,"
stated U.S. Chargé D'Affaires James Nealon, announcing
that a final agreement was reached November 2, 2005.
Uruguayan Foreign Affairs
Minister Reinaldo Gargano and Assistant Secretary of State
Thomas Shannon will be signing the BIT in Mar del
Plata, Argentina, on the opening day of the Fourth Summit
of Americas, November 4, 2005.