U.S., Uruguay Ink Investment Pact

ByJohn S. McClenahen Less than a year after the U.S. and Uruguay announced their intention to negotiate a bilateral investment pact, the treaty has been signed. The agreement, signed Oct. 25 in Montevideo, Uruguay, provides for "free and timely" transfer of investment funds, "effective compensation" if a company is expropriated, and the right to seek binding arbitration of claims. The treaty now goes to the U.S. Senate for a vote. The U.S. currently has 39 bilateral investment treaties in force with other nations, according to the Office of the U.S. Trade Representative.