Uruguay has been accepted to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), nearly two years after submitting its application.
The application was submitted in November 2022, during the administration of former President Luis Lacalle Pou, who had made his plans known earlier that year.
Members of the CPTPP currently include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom and Vietnam.
The twelve member nations represent 15% of global GDP and a combined population of approximately 595 million.
Uruguay’s membership places it among countries its officials regard as an important trade-focused bloc for strengthening economic ties across the Pacific and Indo-Pacific.
Diplomatic push before government transition
It comes after sustained diplomatic efforts when Uruguay was run by the previous government. Less than a month before stepping down from his position, former Vice Foreign Minister Nicolás Albertoni referred to the CPTPP as “a big business opportunity” in an interview with the Spanish news agency EFE last February.
His comments followed a visit to Japan, where he met with Kenichi Kobayashi, Japan’s chief negotiator for the Trans-Pacific Partnership.
Pursuit of its membership did not stop once Lacalle Pou left office, as his administration still negotiated for finalising its accession.
The work had started before the entrance, Albertoni said, but the same principles of continuity were applied when they were part of the bloc as well.
Officials highlight continuity and State cooperation
Following Uruguay’s acceptance, Albertoni officially thanked the people who maintained negotiations after he left the government.
In a post on X, he expressed gratitude to individuals who informed him of the decision and congratulated the team that persisted throughout the process.
He highlighted correspondence from Csukasi, whom he congratulated for delivering the news, and applauded Lubetkin and Csukasi’s commitment to moving negotiations forward.
Albertoni described the meeting as an important gesture of state responsibility and partnership, emphasising his respect for the continuity demonstrated by succeeding leaders.
Expanding presence in a strategic bloc
Uruguay adds a new South American presence in the economies of the CPTPP. Becoming a member of this partnership connects the country to a multi-continental partnership covering Asia-Pacific, North America, Oceania and Europe.
The bloc connects developed and underdeveloped economies and, back in the day, aligned with several of Uruguay’s regional competitors.
Although officials have talked about its economic importance, Uruguay’s entry also has to do with positioning against the backdrop of a global tendency toward wider trade agreements.
Given that the pact encompasses economies responsible for some 15% of global output, and directly, close to 600 million consumers, the integration of Uruguay might help further increase trade flows and enhance commercial links.
Next steps after acceptance
Once confirmed that Uruguay was willing to take part in the agreement, the focus changed to how it would implement and operationalise participation within the agreement.
The CPTPP allows this country to join members with developed trading arrangements, although political leadership and negotiations traversed governments.
The announcement, for Albertoni, who helped lead the accession efforts, represents the completion of a strategy that was long pursued during his tenure.
He congratulated those who continued the work and said that the outcome demonstrates “diplomatic efforts over time.
Uruguay’s entry now places it in a major trade bloc that spans global markets, following negotiations and foreign policy coordination that began under the previous administration and were completed with its acceptance.
The post Uruguay secures entry into CPTPP, joining trade bloc covering 15% of global GDP appeared first on Invezz
