The United States and Uruguay announced the establishment of a Joint Commission on Trade and Investment (JCTI) in February 2002. In November 2003, at the FTAA Trade Ministerial meeting in Miamithe countries announced that they would begin to negotiate a Bilateral Investment Treaty (BIT). Negotiations began on 11 May 2004 and concluded on 07 September 2004. It was signed on 25 October 2004.

On 4 November 2005, during the IV Summit of the Americas in Mar del Plata, Argentina, Uruguay and the United States signed a new investment treaty modifying the October 2004 BIT. Modifications were made to Article 17 and the selection of arbitrators in the settlement of disputes. Uruguay issued an interpretative declaration on the scope of Annex II of the Treaty referring to Most Favored Nation treatment.

The Senate of Uruguay approved the Treaty on 21 December 2005 and the U.S. Senate approved the BIT on 12 September 2006. The BIT entered into force on 01 November 2006.

During the VI meeting of the Joint Commission on Trade and Investment, held in Montevideo, Uruguay on 02-03 October 2006, the United States and Uruguay agreed to launch negotiations of a framework agreement to strengthen their bilateral trade and investment relations. On 25 January, 2007, a Trade and Investment Framework Agreement (TIFA) was signed in Montevideo, Uruguay. The agreement establishes a Uruguay-United States Council on Trade and Investment and sets out a work program. The first meeting of the Council on Trade and Investment was held in Washington DC on 26 April 2007. The Trade and Investment Council met for the second time on 1 May 2008.

Documents related to the negotiations
25 January 2007	Joint Statement on signing the Trade and Investment Framework Agreement (TIFA)
01 November 2006	U.S.-Uruguay Bilateral Investment Treaty enters into force
14 September 2006	U.S. Senate approves U.S.-Uruguay Bilateral Investment Treaty
21 December 2005	Uruguayan Senate approves U.S.-Uruguay Bilateral Investment Treaty
November 2005	New Treaty between the United States and Uruguay Concerning the Encouragement and Reciprocal Protection of Investment
	Uruguay Declaration on Most Favored Nation
4 noviembre 2005	Mar del Plata, Argentina. United States and Uruguay sign a new Bilateral Investment Treaty
25 octubre 2004	Bilateral Investment Treaty between the United States and Uruguay
25 de octubre 2004	United States and Uruguay sign Bilateral Investment Treaty
7 setiembre 2004	Washington, D.C. United States and Uruguay conclude Bilateral Investment Treaty
11 mayo 2004	United States and Uruguay initiate negotiations towards a bilateral investment treaty
20 noviembre 2003	Miami,USA. United States and Uruguay announce negotations of a bilateral investment treaty
15 February 2002	Statement announcing the establishment of a Joint Commission on Trade and Investment (JCTI)
Source: Parlamento del Uruguay; Presidencia de la República Oriental del Uruguay; The Office of the United States Trade Representative (USTR); United States Embassy in Montevideo, Uruguay

Meetings of the Joint Commission on Trade and Investment (JCTI)
03 octubre 2006	Montevideo, Uruguay. VI Joint Commission meeting
03-04 abril 2006	Washington, D.C. Fifth Joint Commission meeting
Sources: Presidencia de la República Oriental del Uruguay; The Office of the United States Trade Representative (USTR)

Meetings of the Council on Trade and Investment
01 May 2008	Washington, DC. Second meeting of the Trade and Investment Council
26 April 2007	Washington, DC. First meeting of the Trade and Investment Council
Sources: Presidencia de la República Oriental del Uruguay; The Office of the United States Trade Representative (USTR)