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, Isaac Alfie.

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 conference	Mr. Segarra with Ambassador Silverstein, Ms. María Pía Labarca Iturrando and Mr. Oliver Griffith

Secretary Milton Segarra meeting with President Jorge Batlle and Ambassador Silverstein

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