Exciting times ahead for China-Uruguay relationship

In 1946 Cuban singer-songwriter Cesar Portillo de la Luz wrote Contigo en la Distancia (With You in the Distance). It's one of the most famous boleros, a Spanish dance song, in history. At its climax the song goes, "With you in the distance, my beloved one, I am". These words were written for lovers far away from each other, but they can also define the current status of Chinese-Uruguayan relations.

Uruguay and China are good friends with a common agenda that prioritizes world peace and the prosperity of the Chinese and the Uruguayan people. The two countries are of course dramatically different in size: Uruguay's 3 million inhabitants would fit in Beijing's Haidian district alone and still leave room for the estimated 1 million Uruguayans living abroad. But when hopes are high and intentions are good, asymmetries are not an obstacle for successful bilateral partnership.

Uruguay became the first Latin American country to formally endorse the Belt and Road Initiative when Foreign Minister Rodolfo Nin Novoa met Chinese counterpart Wang Yi to sign an memorandum of understanding. The memorandum identified five key areas of cooperation: policy coordination, connectivity of facilities, unimpeded trade, financial integration, and people-to-people bonding.

Never before have I seen such interest in China across Uruguay as in the last few months. Uruguayan ministers, governors, business leaders, artists and academics are now visiting China on a monthly basis with. Every WeChat post from the Uruguayan ambassador to China seems to bring more news. This week alone we learned that Uruguay has formally joined the Asian Infrastructure Investment Bank, a development bank set to play a pivotal role in the 21st century.

With the second International Belt and Road Forum being held in Beijing this week, now is a good time to discuss the multiple opportunities that lie ahead for the two countries.

China is the world champion in infrastructure construction. Uruguay is in much need of significant investment in its infrastructure. Chinese companies should bring more Latin America experts to their overseas investment divisions to help identify opportunities in Latin America in general and in Uruguay in particular. Likewise Uruguayan companies need to improve their understanding of China and learn what doors to knock on when seeking Chinese investment. Uruguay should put programs in place to help Chinese companies navigate the bidding processes.

Tsinghua University's motto is, "Actions speak louder than words." As Uruguay's economy experiences some turbulence, it would be fantastic if the Chinese government encouraged corporate China to invest more in the country. The Uruguayan economy does not need dozens of Chinese investment projects, just a billion-dollar flagship project.

Chinese companies with adequate resources need to take a more active, open-minded approach to investment in Uruguay, while the Uruguayan government could advise on the most appropriate sector for this investment, such as logistics, agriculture or tourism.

Why doesn't the China Investment Corporation partner with major Uruguayan companies to build a logistics platform for Chinese companies in the Southern Cone? Why don't Chinese food and beverage companies invest in modernizing Uruguay's agriculture sector to increase the sector's exports to China?

Courage and creativity: the two Cs for doing business in China. Uruguayan companies need to approach China with a different mindset. They need to bring new, creative products and services. While China is the toughest, most competitive market in the world, there are still opportunities waiting to be captured.

Opportunities in football are a good example. A Uruguayan football school was established recently in Tangshan. This could be a gateway for dozens of young Chinese people to learn about their passion, and for dozens of Uruguayan companies to export football training expertise.

There are exciting times ahead for the bilateral relationship, and hopefully after the second Belt and Road Forum, they will get even more exciting.

Nicolas Santo is the author of A Tango with the Dragon: A Uruguayan in the Chinese Government and An Insider's View of China's Rise.

The opinions expressed here are those of the writer and do not necessarily represent the views of China Daily and China Daily website.