PH seeks stronger trade, investment ties with Paraguay

The Philippines, through the Department of Trade and Industry (DTI), is looking to deepen trade relations with Paraguay following the official visit of Paraguay’s Vice Minister for Investments and Exports, Javier Vivero, from February 20 to 21.

The high-level discussions aimed to promote foreign investment in both countries and strengthen bilateral trade ties, according to the DTI.

Trade Undersecretary Ceferino Rodolfo expressed interest in Paraguay’s expanding trade partnerships, while Vivero highlighted his country’s growing economic ties with Taiwan and Japan. 

Both officials explored potential collaborations with ASEAN nations, particularly in food processing and livestock exports.

The DTI noted that both nations shared strengths in manufacturing and energy, recognizing opportunities for strategic partnerships with foreign investors.

“The Philippines continues to strengthen its trade partnership with Paraguay, exporting a diverse range of products, from advanced machinery and electrical equipment to high-value agricultural goods like coconuts and Brazil nuts,” the Trade Department said.

In return, the Philippines imports key commodities such as soybean cakes, frozen beef, rice, and corn, as well as industrial materials like cables, insulated conductors, and insecticides.

Both countries reaffirmed their commitment to deepening economic cooperation, particularly in agriculture, manufacturing, and industrial development. They pledged to enhance bilateral trade, attract new investments, and strengthen diplomatic ties for mutual growth. — DVM, GMA Integrated News