WASHINGTON, Oct. 25 (UPI) -- U.S. and Uruguay trade officials Monday signed a bilateral investment treaty in Montevideo, Uruguay.
"This agreement levels the playing field and ensures that Americans are treated equitably by increasing protection for U.S. investments in this South American nation," said Deputy United States Trade Representative Peter Allgeier.
U.S. bilateral investment treaties ensure U.S. investors are protected when they establish businesses in other countries. By safeguarding foreign subsidiaries of U.S. firms, BITs help promote new U.S. exports to the markets of BIT partners.
BITs also protect the interests of average American investors, whose stock and bond portfolios often include stakes in foreign-invested firms.
The United States currently has BITs with 39 nations.
