URUGUAY - SAFI
Uruguay is situate in South America between Brazil (in the North-East) and Argentina (in the West) and has an area of 175,000 sq. km (67,550 sq. miles). It has a population of approximately 3.3 million of which 1.3 million live in the capital, Montevideo. Most Uruguayans are of European descent, mainly Spanish and Italian. Spanish is the official language, with English as the second business language. The climate is temperate. On the Atlantic Ocean, 120 km (75 miles) East from Montevideo, lies Punta del Este, one of the best known seaside resorts in South America.
Uruguay has excellent telecommunications and postal facilities, and courier services are well established in the country. Montevideo is linked by major scheduled airlines to the principal cities of the world.
Uruguay forms part of MERCOSUR (Mercado Común del Sur or South Common Market) together with Brazil, Argentina, Paraguay and in future also Chile and Bolivia. Montevideo has been elected as the administrative headquarters of MERCOSUR. Uruguay is the region's financial centre and enjoys unrestricted capital inflows and outflows.
Uruguay has a presidential system of government in which parliamentary members are chosen every five years. Recently, a new system was introduced in which the President and Vice President have to be chosen in a run off or "ballotage" if none of the most voted for candidates did not receive 50% plus one of the votes cast.