The agreement, which aims to provide legal certainty, is in addition to the Reciprocal Investment Promotion and Protection Agreement signed in 2021.
Uruguay and Türkiye signed the Agreement to Eliminate Double Taxation on Income Taxes, which aims to provide legal certainty and adds to the Agreement on the Promotion and Reciprocal Protection of Investments signed in 2021 between both countries.
This Tuesday, the foreign minister (MRREE), Omar Paganiniand the Turkish ambassador in Montevideo, Tunca Özçuhadarsigned the tax agreement that seeks to consolidate a regulatory framework to strengthen the bilateral economic relationship.
The signing took place at the headquarters of the Chancellery and is inscribed within the framework of the deepening of relations between Uruguay and Türkiye, after the openings of the resident Embassies in Montevideo and in Ankara in 2021 and 2022, respectively.
On the other hand, next December 8 will mark the 91st anniversary of the establishment of diplomatic relations between both nations, which have increased their trade flow in recent years.
Türkiye consolidates itself as Uruguay’s sixth trading partner
In 2023, Türkiye was the sixth largest destination in exports of Uruguayan goods to the world, accounting for 4% of the total and standing out in the purchase of live cattlecellulose, animal feed, rice, wool and dairy products.
Placements to Turkey quadrupled last year compared to 2022, and went from 114 million dollars to 423 million dollars in 2023, with sustained growth in live cattle sales, which rose from 20 million dollars to 223 million dollars, and pulp, which rose from 48 million dollars to 160 million dollars, explaining this behavior.
In June, exports to Turkey registered a year-on-year jump of 9%, totaling about 40 million dollars on a monthly basis, about 3 million more than the 37 million totaled in June of last year.
Source: Ambito
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