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The Past, Present, and Future of Uruguay's Foreign Trade

June 26, 2026
ORT hosted the presentation “Perspectives on Uruguay’s Foreign Trade,” an event that brought together officials, educators, and experts to reflect on the past, present, and future of Uruguay’s foreign trade.

Book Presentation by Isidoro Hodara

The event, at which the book *Algún tiempo pasado fue mejor, el futuro puede serlo. Miradas del comercio exterior de Uruguay* by economist Isidoro Hodara, a former professor of international trade at the university, was presented, was organized by the Department of International Studies of the School of Administration and Social Sciences. Dr. Jorge Grünberg, rector , delivered the opening remarks, followed by comments from economist Jorge Caumont, MA, and current professor Mag. Juan Labraga.

At the start of the event, Grünberg thanked Hodara for his commitment to the university and highlighted the value of the publication:

Now we have this book that you have written, drawing on much of your experience, and which we will all read with great interest. Thank you for choosing the university as the venue for this book launch.

Dr. Jorge Grüngberg

A Look at Uruguay's Foreign Trade

The first to speak was economist Jorge Caumont, who emphasized the book’s importance and strongly recommended reading it: “It’s absolutely worth reading. I suggest, without a doubt, that you do just that.”

He argued that Uruguay “has lost respect for future generations” by increasing public spending and debt. “Spending more, taking on more debt, and running a larger deficit is making a mockery of future generations, he said.

Next to speak was Juan Labraga, currently a professor of International Trade at ORT, who highlighted the book’s emphasis on personal connections as a key tool in international negotiation.

“In this digital age, it’s very important to maintain personal connections. People often think that issues can be resolved through a meeting on a digital platform. That may be true for minor matters, but the important and significant issues in international negotiations and other areas of life are resolved by building relationships,” he said.

According to Labraga, Hodara uses numerous examples to demonstrate the importance of building trust with one’s counterpart when making complex decisions. “In this fast-paced world, it’s worth reading from that perspective,” he said.

The economist also noted that the author proposes shifting the focus of some discussions on regional integration. “For 20 years, we’ve been debating whether or not to join Mercosur, and whether or not to make the rules more flexible. That’s not the relevant discussion. Uruguay needs to take action and then propose exceptions to the common external tariff,” he said.

https://www.youtube.com/watch?v=tXWhMuBjn_4&list=PLvoBCNLc6bgPAyEIfIS-gdDicjvo1BY5n

A Country Between Nostalgia and the Future

At the conclusion of the event, Hodara explained that the book stemmed from two main motivations. The first, he said, is a tribute to the country that welcomed his family.

“This recipe has two ingredients. The first is a tribute to the country that welcomed my parents, where I was born and raised. Without this ingredient, this book would not have been possible,” he said.

He also clarified that this perspective “has nothing to do with xenophobia, narcissistic nationalism, or the idea of ‘Uruguay as a world power,’ but is simply a sincere acknowledgment.”

The second ingredient, he explained, is more troubling: the concern about the effect that the weight of a successful past might have on one's ability to plan for the future.

A longing for the past coexists with an unfounded conviction that it will never return.

Isidoro Hodara, Economist

The author dated the beginning of Uruguay’s “golden age” to the 1870s, a period which, as he explained, was marked by three fundamental transformations: the introduction of sheep, the renewal of the cattle herd, and the fencing of the entire grazing area.

According to the economist, this period of prosperity turned Uruguay into a “magnet” for migration, although he clarified that the country was not an exception in the region. “Uruguay was not an island,” he said, noting that similar processes occurred in other countries.

The author identified the 1950s as a “turning point, after which a sharp decline began. Among the possible explanations, he proposed a particularly provocative one: as a society, Uruguay had chosen to allocate part of its income to leisure.

To illustrate the concept, he cited a recent column by economist Paul Krugman published in The New York Times on May 12, 2026, about work-life balance. As he explained, countries such as Germany maintain productivity levels similar to those of the United States, although with a lower gross domestic product, because their citizens choose to work fewer hours and have more free time.

“In the past, leisure might have meant playing truco; today, it might mean going on a cruise. The concept of leisure has changed,” said Hodara, who also questioned certain cultural limitations that, in his view, hinder the country’s development.

Calling Uruguay “paisito” is like calling a bonsai “arbolito.” A bonsai isn’t a frustrated tree.

Isidoro Hodara, Economist

Toward the end, he argued that the current context demands higher standards of quality and professionalism.

“The days when we could just do things more or less the Uruguayan way—patched together with wire—are over. ‘Good enough is no longer good enough, he concluded.

https://youtu.be/M18AeQs1fVs