A future Free Trade Agreement between China and Uruguay is at the top of the to-do list as Chinese Foreign Minister Wang Yi continues his visit to the capital of Montevideo. As CGTN's Joel Richards reports, up until now, only minor agreements have been signed.

It's been 30 years since China and Uruguay established diplomatic ties. Few capital cities are further apart geographically from Beijing, but Montevideo hopes to have an even greater role in China's future. Chinese Foreign Minister Wang Yi first met with Uruguayan President Tabarez Vazquez before sitting down with his Uruguayan counterpart, Rodolfo Nin Novoa. The ministers signed an agreement to ease business visas, but the overriding question here was when the two countries will shake on a proposed Free Trade Agreement.

WANG YI CHINESE FOREIGN MINISTER "Signing the Free Trade Agreement with China will bring greater opportunity for Uruguay's development. Once signed, China will have access to a market of 3.5 million consumers, but Uruguay will have access to a market of 1.3 billion. It is a straight forward calculation, everyone knows the answer."

Three decades ago, Uruguay began exporting wool to China. Now, according to government agencies, more than 20 percent of exports go to China with soy and beef the main products. The Director of the Exporters Union Teresa Aishemberg says Uruguay's government and private sector want the agreement signed.

TERESA AISHEMBERG, DIRECTOR URUGUAY EXPORTERS UNION "Our competitors in beef exports like Australia and New Zealand have (free trade) agreements with China, they pay fewer taxes, they also have the advantage which is that they are closer."

On Wednesday, Uruguay's foreign minister spoke of the stumbling block - which is needing to convince fellow Mercosur trade members Argentina and Brazil, who would prefer to negotiate any deal as a bloc.

JOEL RICHARDS MONTEVIDEO "While negotiations continue, there were also talks here over Uruguay's ambition to become a South Atlantic transportation hub in the region, forming an integral part of China's Belt and Road Initiative. This small country may be out of sight of China, but it is not out of mind. Joel Richards, CGTN , Montevideo."