The Joint Standing Committee on Treaties (JSCOT) has tabled a report recommending ratification of the Agreement on Social Security between Australia and the Oriental Republic of Uruguay.
The Agreement enables eligible individuals who have moved between Australia and Uruguay to qualify for social security benefits. It also allows Australians and Uruguayans to continue receiving certain social security payments when they move between the two countries. In addition, the Agreement reduces costs and administrative burden by preventing individuals and businesses from having to pay social security contributions in both countries at the same time.
Committee Chair, Lisa Chesters MP said: “Australia and Uruguay share a strong and cooperative bilateral relationship grounded in mutual respect and common interests. This Agreement is an opportunity to deepen our relationship with Uruguay while delivering practical benefits to people who have lived and worked in both countries.”
“The Committee is satisfied that the costs to Australia will be modest and manageable, and that the Agreement is consistent with Australia’s other international social security agreements.”
At the conclusion of the inquiry the committee determined that the Agreement is in Australia’s national interest and has recommended that binding treaty action be taken.
The report also includes a minor treaty action relating to the Amendment to the Agreement establishing the Asian Development Bank. This amendment removes the Asian Development Bank’s lending limit, boosting its financial capacity and maximising its developmental impact.
The Report can be found on the Committee website
