President Tsai Ing-wen (???) on Thursday expressed hope that Taiwan and Paraguay would further their bilateral ties in trade and other areas in the years to come, during a meeting with a visiting Paraguayan delegation.

Bilateral trade has advanced since an Economic Cooperation Agreement (ECA) between Taiwan and Paraguay took effect in 2018, Tsai told Paraguay’s Minister of Commerce and Industry Luis Alberto Castiglioni, the delegation’s leader, during the meeting.

Taiwan imported a record 29,000 metric tons of frozen beef products from Paraguay in 2021, Tsai said, according to a readout provided by the Presidential Office.

In addition, Taiwan exempted imports of Paraguay’s beef offal from tarrifs starting in January, allowing the agricultural sector of the landlocked nation to enjoy greater access to the Taiwanese market, Tsai said.

Besides beef products, the government is also considering extending similar breaks to other types of Paraguayan livestock under the ECA, Tsai said, adding that this would emphasize Taiwan’s ties with the South American ally.

Taiwan looks forward to furthering its cooperation with Paraguay in various fields that will bring about mutual prosperity, the president noted.

Since their arrival in Taiwan on Monday, the Paraguayan delegation, which includes government officials and business representatives and is visiting until Friday, has met with Taiwan’s Foreign Minister Joseph Wu (???) and Economics Minister Wang Mei-hua (???).

The delegation also attended Paraguay’s Investment and Market Opportunities Seminar in Taipei on Tuesday, during which it pitched business opportunities in the South American nation as part of efforts to attract Taiwanese investment, according to a press statement by Paraguay’s Ministry of Industry and Commerce.

Taiwan’s Ministry of Economic Affairs, which hosted the seminar, said nearly 100 Taiwanese business and industry representatives attended the event.

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

Source: Focus Taiwan News Channel