Revitalizing Japan-Paraguay economic relations

By BKM | Berkemeyer

The Vice Minister of Economic Relations and Integration of Paraguay, Raúl Cano Ricciardi, met with the Ambassador of Japan in Paraguay, Nakatani Yoshie, to discuss trade and investment opportunities between the two countries.

The two sides shared the view that, now with the balance of power in the international community changing at an accelerating pace and in a complex manner, further cooperation was necessary to maintain and strengthen a free and open international order based on the rule of law. Both expressed support for realizing a “Free and Open Indo-Pacific (FOIP).”

Looking ahead to post-COVID-19, the two sides shared the view of the need for revitalizing Japan-Paraguay economic relations. Ambassador Yoshie communicated the Government of Japan’s decision to provide technical cooperation for assisting micro, small and medium enterprises (MSMEs) to further support an early economic recovery and revitalization of society in Paraguay, which was affected by the COVID-19 pandemic.

Ambassador Yoshie stated that Japan has been supplying equipment for strengthening the necessary medical systems during COVID-19, and that Japan intends to continue providing cooperation for the economic and social development of Paraguay, including infrastructure development.

A Japanese dredging company will soon arrive to Paraguay, seeking alliances with national companies with the aim of participating in bidding processes.