Paraguay, Taiwan sign new agreements to bolster mutual cooperation

Paraguay and Taiwan signed on March 30 two memorandums on the prevention of African swine fever and the promotion of investment and exports, in addition to a letter of intent on industrial policy cooperation, it was announced.

The new understanding was agreed upon during the 21st Taiwan-Paraguay Economic Cooperation Conference, which was co-chaired by Taiwan’s Minister of Economic Affairs (MOEA) Mei-Hua Wang and Paraguay’s Minister of Industry and Commerce (MIC) Luis Alberto Castiglioni.

The conference has been held since 1971 and has become the most important platform for economic and trade cooperation and exchanges between the two countries.

This meeting resulted in the signing of a Memorandum of Understanding (MOU) on technical cooperation for the diagnosis and prevention of African swine fever (ASF), which works on the exchange of technology, knowledge, and data between specialists, in addition to workshops and seminars.

The second MOU signed addressed technical cooperation between the Investment and Export Network (Rediex) and the Trade Development Council (Taitra). It seeks to promote trade between both nations through strategies that will make certain products competitive within a framework of export promotion.

A Letter of Intent (LOI) was also signed to promote cooperation in industrial policy between the MOEA of Taiwan and the MIC of Paraguay, in order to further improve the South American country’s industrial development, by capitalizing on Taiwan’s experience in economic development.

Taiwanese President, Dr. Tsai Ing-wen, welcomed the Paraguayan delegation led by Castiglioni, whose entourage included other government officials and lawmakers, in addition to members of the National Animal Health and Quality Service (SENACSA)and businessmen from the Paraguayan Industrial Union (UIP).

Both countries highlighted that the Economic Cooperation Agreement between the two countries has stimulated the continuous growth of bilateral trade since it came into force in 2018.

The Taiwanese President said she hoped to strengthen bilateral relations to promote prosperity and development for the benefit of the two “brotherly peoples.”

Source: MercoPress

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https://en.mercopress.com/2022/04/01/paraguay-taiwan-sign-new-agreements-to-bolster-mutual-cooperation

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