Uruguay was accepted into the Trans-Pacific Partnership, the trade agreement that accounts for 15% of global GDP

Uruguay's application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has been accepted, according to a statement issued last Friday by the Ministry of Foreign Affairs. This marks the conclusion of a process that has spanned more than one government term, as it was pursued not only by the government of Yamandú Orsi but also by that of Luis Lacalle Pou.

Uruguayan Foreign Minister Mario Lubetkin announced last Friday that Uruguay had been accepted by the countries that make up this treaty without any objections from its members, and that negotiations to join the bloc could now begin. An "arduous stage of work" now begins, he said.

The members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, meeting in Melbourne, reported in a statement that there are four countries interested in joining this international agreement: Uruguay, the United Arab Emirates, the Philippines and Indonesia, and announced that among them, they have decided to begin the process now with Uruguay alone.

"We have decided to begin the accession process with Uruguay and, if appropriate, we will begin with the others in 2026," said the statement from the association, which brings together a group of countries with Pacific coastlines, including Canada, Mexico, Peru, Chile, New Zealand, Australia, Singapore, Malaysia, Brunei, Vietnam and Japan.

The twelve countries that make up the Trans-Pacific Partnership represent around 15% of global GDP (US$15.4 trillion) and a population of more than 595 million people. In addition, in 2023, the bloc accounted for 15% of global trade.

On the other hand, between 2022 and 2024, the CPTPP accounted for an average of 9% of Uruguay's total merchandise exports: US$ 1.1 billion.

With this free trade agreement, member countries have the opportunity to negotiate with lower tariff barriers, among other benefits.