The 21st ROC-Paraguay Economic Cooperation Conference was held in Taipei City on March 31. It was co-chaired by Wang Mei-Hua, Minister of Taiwan's Ministry of Economic Affairs, and Luis Castiglioni, Minister of Industry and Commerce of Paraguay. Minister Castiglioni's delegation included Ramiro Samaniego, Vice Minister of Industry, Estefania Laterza, Vice Minister of Red de Inversiones y Exportaciones (REDIEX), and a number of top officials and business leaders. Since the bilateral Economic Cooperation Conference was first held in 1971, it has become the most important economic and trade cooperation and exchange platform between the two countries to discuss important economic and trade issues.
Minister Wang pointed out in her opening speech that Paraguay is Taiwan's close partner nation, and that Taiwan has long been carrying out bilateral economic and trade cooperation projects through the platform of the Conference. She noted that the holding of this year's Conference during the challenging times brought about by the ongoing COVID-19 pandemic is of great significance. The Minister said it is worth mentioning that training technology talents is helpful for Paraguay's industrial development, and the fact that Paraguay has the abundant hydro and electricity resources opens more cooperative opportunities between the two countries. As the trade between the two countries continues to grow, Taiwan has become the third largest export market for Paraguayan beef, with exports to Taiwan topping US$160 million in 2021. She further noted that Paraguay's rich and diverse agricultural and animal husbandry products and high-potential export processing sector have synergistic advantages complementary to Taiwan's industrial development.
Minister Castiglioni said in his opening speech that the Conference has become an important platform for bilateral cooperation and exchanges. In addition, Taiwan is also an important friend of Paraguay, and it is expected that both countries will be able to continually develop their mutual economic and trade cooperation amid the ongoing global pandemic. The Minister also stated he sincerely appreciates that Taiwan has always cherished the close friendship between the two countries and has assisted with the development of Paraguay's industrial policies to deepen the bilateral economic and trade relations.
This year's Conference resulted in a number of achievements, including the signing of two memorandum of understanding (MOU), respectively on cooperation on African swine fever (ASF) diagnostic technology and personnel training and on promotion of trade and export, and the signing of a letter of intent (LOI) on industrial policy cooperation. With such agreements made, Taiwan will help strengthen Paraguay's border control and ASF inspection capabilities, and will also continue to promote the trade cooperation between the two countries and assist Paraguay in investigating its economic and industrial environment in order to help formulate industrial policies that meet the nation's economic development needs.
During the Conference, it was also mentioned that TAITRA holds a number of international trade exhibitions every year and actively encourages Paraguayan enterprises to participate in them. Among various events, the Paraguayan enterprises also have the opportunities for B2B business exchanges with the Taiwanese enterprises online through the Taiwantrade MEGA EXPO. On the other hand, Paraguay welcomes Taiwanese enterprises to participate in its international agricultural and animal husbandry expo for purchasing Paraguayan products.
Paraguay has actively taken part in international trade exhibition-related activities in recent years, including participating in the EXPO Dubai and establishing the Paraguay National Pavilion to promote the country's image. Furthermore, Paraguay has the advantages of political stability, stable currency and preferential tax rates to successfully attract enterprises from many countries in the region and beyond to invest in Paraguay.
Sourcese:Minister: Ministry of Economic Affairs(MOEA)
