The annual economic cooperation meeting between Taiwan and Paraguay was held Sept. 24 via videoconference, underscoring the allies’ shared commitment to bolstering mutually beneficial business and people-to-people exchanges.
During the 20th edition of the talks, Minister of Economic Affairs Wang Mei-hua and Paraguay counterpart Liz Cramer discussed issues spanning human resources, investment, mobile games, small and medium enterprises and trade. A highlight of the event was the signing of a letter of intent to boost cooperation on standards and inspection through a series of training sessions and workshops, the MOEA said.
According to Wang, bilateral economic and trade exchanges have continued apace despite COVID-19. Since last year’s meeting, the MOEA has assisted several local companies seeking investment opportunities in Paraguay.
Wang noted in particular that Taiwan-Paraguay Polytechnic University established in Asuncion in 2018 is making great contributions to talent cultivation and industrial advancement in the South American ally. The facility will continue to serve as a platform spurring further collaboration between the two countries, she said
It is hoped that Paraguay will enhance flexible trade policies addressing the needs of Taiwan firms operating in the country, the minister said, adding that that such policies will be essential as enterprises adapt to the changing economic landscape of the post-pandemic era.
In response, Cramer praised Taiwan’s importance as an ally, citing Taiwan’s plans to stimulate the country’s SME development and facilitate frozen beef imports from Paraguay as two examples of the two sides’ rock-solid relationship. The Paraguay government welcomes Taiwan’s continued support as the country weathers COVID-19, Cramer added.
Ministry of Finance statistics reveal that bilateral trade soared 70.82 percent year on year to US$105.31 million in 2019, including US$64.51 million in frozen beef imports, while accumulated investment from Taiwan amounted to US$157.35 million as of September 2020. (SFC-E)
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