Taiwan and Paraguay sign MoUs and Letter of Intent on trade and technical cooperation

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Taipei, April 1 (CNA) Taiwan and Paraguay on Thursday signed two memoranda of understanding on the prevention of African swine fever and the promotion of bilateral trade, as well as a letter of intent on industrial policy cooperation. .

The signing was made in Taipei by the two parties during the 21st Economic Cooperation Conference between the Republic of China and Paraguay, co-chaired that day by Minister of Economy Wang Mei-Hua (王美花) and Minister Paraguayan of Trade and Industry Luis Alberto Castiglioni.

Under the two MoUs, Taiwan will help Paraguay improve its border controls against African swine fever through exchanges on inspection techniques. He will also continue to promote trade-related cooperation between the two countries.

With the letter of intent, Taiwan will share its experience by providing recommendations and guidelines on Paraguay’s industrial policy as a tool for its economic development.

Wang said the development of scientific and technological talents will help Paraguay’s industrial development, adding that since it is rich in water and electricity resources, the two countries could explore new opportunities for cooperation in these fields.

During the event, Castiglioni remarked that the bilateral conference, which has been held since 1971, has become one of the most important platforms for cooperation and economic and commercial exchanges between the two countries.

Castiglioni is the head of a delegation of government officials and business representatives who arrived in Taiwan on Monday. The group will leave for Paraguay on Friday.

Bilateral trade between the two sides continues to grow, and Taiwan also became Paraguay’s third-largest importer of beef in 2021, totaling $160 million, according to the Ministry of Economic Affairs.

The Republic of China, the official name of Taiwan, established diplomatic relations with Paraguay in 1957. Paraguay is one of Taiwan’s 14 remaining allies and the only one located in South America.

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