Group A4_ Uruguay

8/8/2019 Group A4_ Uruguay

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Oriental Republic of Uruguay

Group A4 : Business Design

Abhinav Mishra

Ankit Jodawat

Kushal D. Sankhe

Shambhu Mandal

Shivraj Chavan


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Profile of the Country

Geography

Area: 176,220 sq. km

Capital: Montevideo

Terrain: Plains and lowhills, fertile coastallowland; 84% agricultural

Climate: Temperate


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Contd PeopleNationality: Uruguayan(s)Population (July 2008): 3.3 million.

Annual growth rate: 0.3%.

Ethnic groups (1997): European descent 93.2%, Africandescent 5.9%, indigenous

descent 0.4%, Asian descent 0.4%

Religions: Roman Catholic 66%, Protestant and otherChristian 2%, Jewish 1%, non

professing or other 31%.

Language: Spanish

Education:Literacy (2007)--98%

Health (2007):Life expectancy--75.85 yrsInfant mortality rate (2006)--10.5/1,000

Work force (1.6 million, 2008):Commerce, restaurants, and hotels 21%;manufacturing, gas, and electricity 14%;agriculture, fishing, and mining 11%;construction 7%


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.contd

Government Type: Constitutional republic.

Independence:August 25, 1825.

Constitution: First 1830, current 1967, most recently

amended January 1997Branches: Executive--president (chief of state and head ofgovernment). Legislative--General Assembly elected byproportional representation Judicial--Supreme Court ofJustice.

Administrative subdivisions: 19 departments withlimited autonomy.

Political parties/coalitions: Colorado Party, Blanco(National) Party, Frente Amplio, Independent Party.

Suffrage: Universal and compulsory at 18.


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.contd Economy

Gross domestic product (GDP): $31.5 billion (2009); $31.2 billion (2008); $23.9 billion (2007);$19.8 billion (2006); $17.4 billion (2005).

Annual growth rate: 2.9% (2009); 8.9% (2008); 7.6% (2007); 4.6% (2006); 7.5% (2005).Per capita GDP: $9,457 (2009); $9,357 (2008); $7,209 (2007); $5,977 (2006); $5,254 (2005);$4,146 (2004).

Natural resources: Arable land, pastures, hydroelectric power, granite, marble, fisheries.Agriculture (9% of GDP): Products--beef, wool, rice, wheat, barley, corn, soybeans, fish, forestry.Industry (14% of GDP): Types--food processing, electrical machinery, wool, textiles, leather,leather apparel, beverages and tobacco, chemicals, cement, petroleum products, transportationequipment.

Services: Commerce, restaurants and hotels--14% of GDP. Construction--7% of GDP. Other

services--56% of GDP.

Trade: Exports (2009, f.o.b.)--$5.5 billion ($6.5 billion including exports of cellulose pulp andbeverage concentrates from free trade zones): beef, rice, dairy products, wood, soy and leather.Major markets--Brazil , Argentina, China, Russia, Venezuela, U.S.Imports (2009, c.i.f.)--$6.9 billion: oil, planes, telephony equipment, insecticides, vehicles, paper,plastics. Major suppliers--Brazil, Argentina, China, United States, Venezuela.


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People and Etiquettes

The majority of the people are middle class;the extremes of wealth and poverty found inmost other South American countries don't

exist. Uruguayans take a pragmatic, utilitarian andmaterialistic approach to life.

They have an inherent trust of people and astrong belief in social justice.

A great deal of emphasis is placed oneducation. Uruguay has the best-educatedworkforce on the continent.


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Meeting and Greeting

Greetings are warm and accompanied by a firmhandshake.

Friends kiss once on the right cheek when

meeting. People do not greet strangers when passing on

the street. Greeting or smiling at a stranger maybe misunderstood.


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Body Language

Uruguayans stand very close when conversing,both socially and in business.

People touch shoulders and hold arms while theytalk to each other.

Never sit on or put your feet up on a ledge, desk ortable.

The ch-ch sound is used to get someone'sattention or to get a bus to stop.

TheNorth American O.K. sign is extremely rude. You may see people brush the backs of their hands

under their chins to signal I don't know.


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Corporate Culture

Meetings are extremely formal, but don't usually start ontime. However, be sure to arrive on time.

Kinship and friendship play a major role in businesstransactions. Expertise and experience are less importantthan who you are.

Present business cards to everyone in a meeting. Be ready to make small talk before the business discussionsbegin.

Many executives will speak English, but arrange for aninterpreter.

Print all materials in Spanish, from business cards tobrochures.

Hire a local contact to help you in the business communityand to navigate you through red tape. A highly trained and educated businessperson may be

working at a low-level position due to exile, imprisonment orpolitical affiliation. Do not ask questions.


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Dining and Entertainment

People are very casual about time for social events.An invitation for 9:00 p.m. usually means to arriveby 10:00 p.m. Uruguayans usually dine at 9:00 or10:00 p.m

Uruguayans are comfortable conducting business

over lunch Business dinners are to socialize. Do not talkbusiness unless your host initiates the conversation

It is extremely impolite to use a toothpick in public

If an Uruguayan invites you to his/her home forcoffee after dinner, don't stay late on a work night Be alert for cues from your counterpart that tell you

he/she is tired and wants to end the night


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Dress

Uruguayans dress conservatively and seldomwear the bright colors popular elsewhere inSouth America.

Women may not wear nylons during thesummer. If your Uruguayan colleagues donot wear ties or jackets in the summer, youmay follow.

For business, men should wear conservative,

dark suits and ties.Women should wear blouses with dark suits,

skirts and dresses.


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Gifts

Everyone likes North American jeans.Women love flowers, especially roses. A rare,

salmon-colored tea rose is a favorite.

It is polite and common for guests to sendcandy or flowers to a hostess before theoccasion.

Gift giving is not an important part of doing

business. Give scotch (Black Label or ChivasRegal) and gifts made in the United States,especially from your region.


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Helpful Hints

Uruguayans are extremely political people. Askabout politics.

Ask questions about Uruguay. People are veryproud of their country.

Don't confuse Paraguay and Uruguay.


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Uruguay India trade relations

In the year 2003, Uruguays export to India was

approx. 10 million dollars and imports were 7million dollars

In the year 2008-09, Uruguays imports fromIndia was 36.5 million dollars and exports were

a mere 9.7 million dollars. Practically the sameas in 2003


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Of the total Uruguays exports to

the world, 27% are services and

73% are goods

In the goods category, Global

exports are dominated by meat,

rices and soyabeans

In the services category, travel and

transport take the lead

As shown in the figure, Wool is the

leading product of Uruguays

exports to India

Uruguays Exports to India


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Indias Exports to Uruguay

Indias Exports to Uruguayis dominated be Chemicalsand pharmaceuticals

Due to Govt initiatives,Indian exports to Uruguayhave considerablyincreased from 7 to 36.5 mndollars in the span of 7

years


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Commercial Ties

The graphs show the considerable increase in the bilateral trade relations

between two countries in recent years


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Opportunities for further exports

Product name

Uruguay's

imports from

India India's exports to world

Uruguay's imports

from world

2008 2009 2008 2009 2008 2009

Photographic or cinematographic

goods 0 0 33791 24702 9485 8821

Fertilizers 0 0 43170 136366 304822 156411

Beverages, spirits and vinegar 0 0 114283 122196 30031 35834

Residues, wastes of food industry,

animal fodder 3 0 2779798 1707576 100520 84226

Cereal, flour, starch, milk

preparations and products 0 0 242929 207225 38944 36350

Vegetable, fruit, nut, etc food

preparations 0 0 266478 265394 46083 46317

Impregnated, coated or laminated

textile fabric 0 0 9996591988

70156154

Unit: USD thousand


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References from the above table

Uruguay imports USD 156411 k worth of

Fertilizers from the world.

India exports USD 136366 k worth of fertilizersto the world.

But it is seen that India does not export even asingle dollar worth of fertilizer to Uruguay.

India could possibly export all of its fertilizers toUruguay instead of having to export it to othercountries.


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There is a huge opportunity for India to exportResidues, wastes of food industry, animalfodder to Uruguay as Uruguay imports nearlyUSD 84226 k worth of these products from the

world and India exports USD1707576k worth ofthese products to the world.

But as of now, India does not export any ofthese products to Uruguay.

Indian exports of these products to Uruguay cansuffice the entire demand for these products inthat country.

Date post:	10-Apr-2018
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Group A4_ Uruguay

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