Uruguay Reaffirms Regional Leadership at the 28th Ibero-American Free Trade Zone Conference

From November 19 to 21, the Punta del Este Convention Center hosted the region’s most important annual forum on the future of free trade zones. Organized by the Association of Free Trade Zones of the Americas (AZFA) and the Uruguayan Free Trade Zone Chamber (CZFUY), the event convened high-level public and private sector leaders to assess global trends and exchange best practices.

A central theme of the meeting was the strength of Uruguay’s free trade zone regime—an institutional model with more than a century of history that has become a state policy and a strategic pillar of national competitiveness. Speakers emphasized the country’s reputation for stability, legal certainty, and long-term incentives for investment.

The opening ceremony was attended by the President of Uruguay, Yamandú Orsi; the Vice President of Guatemala, Karin Herrera; and the Mayor of Maldonado, Miguel Abella, alongside national authorities, legislators, and international delegations.

A Century-Old Regime Anchored in Certainty and Development

CZFUY President Enrique Buero opened the conference by highlighting the relevance of the moment. “It is an honor for us to host this congress. This meeting is part of the first 100 years of Uruguay's free trade zone regime, the first in Latin America. It is prestigious, internationally recognized, and a source of pride for Uruguayans,” he said.

Buero recalled that the regime was decisively strengthened by Law 15,921 of 1987, which transformed it into a key instrument for positioning Uruguay “as a reliable and safe destination for foreign investment.” Today, he noted, the regime generates more than 66,000 direct and indirect jobs, contributes nearly seven points of GDP, and accounts for almost one-third of national exports. “It is the result of a very successful public–private partnership and a state policy of the last 40 years,” he emphasized.

From Dubai, Mohammed Alzarooni, chairman of the World Free Zones Organization, sent a video message describing free trade zones as engines of innovation and development and offering explicit recognition to Uruguay. “Uruguay stands out as a tremendous example for its 100-year history of free trade zones, an essential tool for the development of the country's economy,” he stated.

AZFA Vice President Carlos Wong reinforced the regional dimension of the sector’s impact. “Free trade zones in Latin America have a significant impact on all our economies: on employment, exports, and attracting investment,” he said. He stressed that the next challenge is to advance sustainability strategies and strengthen the quality of employment while ensuring deeper integration into global value chains.

Uruguay in Focus: 100 Years of the Regime and a Forward-Looking Vision

One of the conference’s main highlights was the panel “Free Trade Zones of Uruguay: 100 Years as State Policy,” which featured Economist Alina Bedat of the National Directorate of Free Trade Zones; Isabella Antonaccio, National Director of Free Trade Zones; and Ignacio Munyo, Economist and Executive Director of Ceres.

The panel presented updated data confirming the sustained growth and increasing contribution of the regime. Bedat explained that Uruguay currently has fifteen authorized free trade zones across eight departments and more than 1,300 user companies, which in 2023 generated around 17,000 direct jobs. Most positions, she noted, are in the services sector and involve young, highly qualified professionals: six out of ten workers have tertiary or higher education, and average salaries reach approximately US$4,500 per month.

She also highlighted the regime’s expanding economic footprint. Investments linked to free trade zones surpassed US$1 billion in 2023, while added value and exports continued to grow, contributing more than 6% of GDP.

Antonaccio emphasized that the success of Uruguay’s model lies in its combination of stability and adaptability. She noted that foreign investors surveyed by Uruguay XXI identify institutional, macroeconomic, and legal stability as the country’s most valued attributes, followed by the incentives offered for investment. “We have a regime that has evolved: it has incorporated global services, technology, data centers, cross-border e-commerce, and new activities that did not exist before. The world is changing, and the regime must adapt to seize new opportunities,” she said, and added that the current challenge is to strengthen that flexibility and anticipate where new business and investment opportunities will emerge.

Uruguay XXI played a central role throughout the conference. Executive Director Mariana Ferreira moderated three breakout sessions focused on strategic sectors: e-commerce, supply chains, and key location drivers for investors in free trade zones. These sessions included leaders from major companies such as Mercado Libre, TiendaMia, nocnoc, Merck, McKinsey, Xtrategy US, and IDS, providing a platform to analyze global trends and identify opportunities for Uruguay in a rapidly evolving context.

Ferreira also took part in the roundtable “Drivers for Attracting Investment in Free Trade Zones,” moderated by Luiz Ros, IDB country representative in Uruguay, alongside leaders from the Dominican Republic, Costa Rica, and Colombia. During the discussion, she highlighted Uruguay’s strength as a destination for long-term investment and high-value-added projects.