Taiwan’s central bank said Wednesday it has signed an agreement with its Paraguayan counterpart to enhance bilateral exchanges of business practices and information.

The agreement was finalized Tuesday by Central Bank of the Republic of China (Taiwan) Governor Yang Chin-long (???) and José Cantero Sienra and Holger Insfrán Ibarrola, governor and general manager of the Central Bank of Paraguay, to strengthen cooperation on business issues.

In a statement, Taiwan’s central bank said the agreement was aimed at promoting exchanges through mutual visits, case studies and the sharing of information and experiences based on the spirit of reciprocity and protection of information security.

Paraguay is Taiwan’s only diplomatic ally in South America, and the Central Bank of Paraguay is Paraguay’s highest monetary authority and the country’s top governing body for the financial sector, according to the statement.

Source: Focus Taiwan News Channel