US, Uruguay to sign amended Bilateral Investment Treaty

Dow Jones Newswires

November 04, 2005

US, Uruguay To Sign Amended Bilateral Investment Treaty

By Michael Casey, Dow Jones Newswires

MAR DEL PLATA, Argentina -(Dow Jones)- The U.S. and Uruguay will sign an amended bilateral investment treaty later Friday, the South American country’s foreign minister said.

"We are going to sign a new treaty, different from the other one, containing the amendments that the president of the republic (Tabare Vazquez) proposed," the Associated Press’s Spanish-language service reported Reynaldo Gargano as saying late Thursday. He was speaking on the sidelines of the Summit of the Americas that began Friday in this Argentine coastal city.

An accord establishing the basic terms of the treaty was signed in October 2004 by then-president Jorge Batlle, but it failed to obtain the necessary approval of the Uruguayan Congress.

Gargano said Vazquez’s center-left government, which dislodged its conservative predecessor in presidential elections last year, was confident that the new treaty would be ratified quickly.

source: Dow Jones News