The Philippines Department of Trade and Industry (DTI) has declared it will strengthen trade relations and investments with Paraguay after an official visit from Paraguay’s Vice Minister for Investments and Exports, Javier Vivero. The high-level talks focused on encouraging foreign investment and augmenting bilateral trade ties between the nations.
According to the government agency, the discussions included participation from entities such as the Board of Investments (BOI), the Center for International Trade Expositions and Missions (CITEM), and the Department of Foreign Affairs (DFA). Representatives from the private sector, the Philippine Chamber of Commerce and Industry (PCCI), and the San Miguel Corporation also took part in the discussions.
Philippines Trade Undersecretary Ceferino Rodolfo showed keen interest in growing trade partnership with Paraguay. Officials explored opportunities for collaboration with ASEAN nations, emphasizing food processing and livestock exports. Both countries acknowledged their mutual expertise in the manufacturing and energy sectors and agreed to become partners for 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.
During the meeting, Vivero highlighted the opportunities associated with Paraguay’s Bioceanic Corridor, a significant transportation route connecting the Atlantic and Pacific Oceans.
The DTI explained that the Bioceanic corridor seeks to boost regional trade by linking Mercosur markets, referring to the South American trade bloc.
While the Philippines is actively enhancing its trade partnership with Paraguay, by exporting a diverse array of products comprising advanced machinery and agricultural goods, in exchange Paraguay exports essential commodities such as soybean cakes, frozen beef, rice, and corn, as well as industrial materials like cables, insulated conductors, and insecticides to the Philippines.
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