The 21st economic cooperation meeting between Taiwan and Paraguay was held March 31 in Taipei City, spotlighting the allies’ shared commitment to enhancing business ties and people-to-people exchanges, according to the Ministry of Economic Affairs.
During the talks first launched in 1971, MOEA Minister Wang Mei-hua and her Paraguay counterpart Luis Alberto Castiglioni discussed mutual interests spanning agriculture, energy, human resources, investment, technology and trade.
Praising Paraguay for being Taiwan’s unwavering ally, Wang said this year’s physical meeting is particularly significant as COVID-19 continues to spread around the world. The minister expects the event to create more mutual opportunities in areas such as high-tech professional training and hydropower development.
In response, Castiglioni said the annual consultation is the primary platform for the two countries to enhance trade and investment ties. Taiwan is an important ally to Paraguay, he said, adding that he hopes to see the government of Taiwan continue to assist his country in terms of industrial policy development.
The MOEA said highlights of the event were the signing of a letter of intent on industrial policy cooperation and two memoranda of understanding on exports and investment promotion as well as personnel and technical training on African swine fever diagnosis.
According to the ministry, bilateral economic and trade exchanges have continued apace despite the pandemic. Latest Ministry of Finance statistics reveal that two-way trade increased 26.77 percent year on year to US$197.08 million in 2021, a record high since the two sides established their official ties in 1957.
Taiwan became Paraguay’s third largest importer of beef products last year, with related exports from the ally to Taiwan topping US$160 million, the MOEA added. (SFC-E)
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