Major financial aid and a whole range of co-operation agreements were finalised during talks between Uruguay's President Juan Maria Bordaberry and visiting Brazilian President Ernesto Geisel on Thursday (12 June).
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Background: Major financial aid and a whole range of co-operation agreements were finalised during talks between Uruguay's President Juan Maria Bordaberry and visiting Brazilian President Ernesto Geisel on Thursday (12 June).
They met in the Uruguayan border city of Rivera, where they witnessed the signing of ten agreements by their Foreign Ministers before settling to six hours of talks.
The agreement included finalisation of a 50 million dollar Brazilian loan to Uruguay t help President Bordaberry's government purchase Brazilian capital goods. These will aid the expansion of Uruguayan industry and develop one of the government's major projects a new fishing complex.
In addition, the two countries agreed to life trade restrictions on farm products and other goods in an effort to encourage bilateral trade.
SYNOPSIS: Riviera, a city on Uruguay's border with Brazil, was under strict security last week for an important and far-reaching meeting between the heads of state of the two countries.
Uruguay's President Bordaberry and president Geisel of Brazil met on the border, then crossed into the city's Uruguayan sector for talks. They also watched as their Foreign Ministers put their signatures to ten agreements, including a fifty million dollar loan to help Uruguay buy Brazilian capital goods. These will aid the expansion of Uruguay's industry and help develop a major project for a new fisheries complex.
During breaks from the formalities of the visit, the two leaders were able to fit in six hours of talks. Another positive result of the meeting was agreement to lift trade restrictions on farm goods and other products in an effort to encourage commerce.