More than 130 Spanish companies in Uruguay are a growing contribution to the economy in the Latin American country, causing the nation to expand its capacity for economic activity. One of the ways being considered is an expansion of the Port of Montevideo to make it a regional hub.

"I believe that the participation of Spanish companies in Uruguay is in line with that old history of encounter between Uruguay and Spain, which actually makes them two countries with enormous cultural, social and also economic ties," said Mieres.

At the inauguration of the Spanish Pavilion of the Spanish Chamber of Commerce, Industry and Navigation of Uruguay (Camacoes) at Expo Prado — the main livestock and agro-industrial fair in the country — the country's Minister of Labor and Security Pablo Mieres was also present.

At the event, he highlighted the existence of Spanish companies "that have a long history" in the country and new ones that are betting on Uruguay being incorporated "through investments in the most diverse fields."

Finally, Mieres said that the achievement of the agreement between the European Union and Mercosur will give "another great boost" to the increase of Spanish investments in Uruguay.

Andrés Burghi, president of Camacoes, also talked about the presence of Spanish companies in the country.

"As I always say, they are very Uruguayan companies, because they are companies that although they are of Spanish origin, we Uruguayans are used to coexisting on a daily basis with all these reference brands in Uruguay," he said.

The 117th edition of Expo Prado will be held in Montevideo from Sept. 9 to Sept. 18 and will feature a number of different economic activities and discussions.