Abu dhabi: Paraguayan President Santiago Pe±a affirmed that relations with the UAE are witnessing rapid development, expressing his country's aspiration to elevate them to a new level based on joint investment, innovation, and long-term strategic partnerships that serve the common interests of both countries.
According to Emirates News Agency, President Pe±a's remarks came during the UAE-Paraguay Business Forum, held in the capital, Asunci³n, in the presence of Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, and a number of senior officials and business leaders from both countries. President Pe±a welcomed the UAE economic delegation, stressing that the visit reflects the strength of bilateral relations and builds on the joint efforts undertaken by both countries to enhance economic and trade cooperation.
He noted that the visit of Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, to Paraguay last March helped open new horizons for public-private sector cooperation and provided the chance to review investment opportunities in logistics, energy, food security, technology, finance, and tourism. President Pe±a explained that relations between the two countries have produced tangible results, including progress on the UAE-backed train project connecting Asunci³n to Ypacara, the opening of the UAE market to Paraguayan poultry exports, and preparations to export the first shipment of beef to the UAE, reflecting growing trade cooperation between the two sides.
He praised the UAE's economic model and its success in consolidating its position as a global hub for trade and investment through its policy of economic openness, as well as the nation's Comprehensive Economic Partnership Agreement programme, and its ability to attract foreign direct investment. President Pe±a called for expanding cooperation between the two countries to include investment in infrastructure, logistics, clean energy, green hydrogen and data centers, as well as strengthening partnerships in food security and developing financing mechanisms for joint projects.
He stressed that the two governments are working to provide an appropriate environment to support the private sector, noting that turning available opportunities into successful investments and projects depends on partnerships between businesses in both countries. President Pe±a stressed that the visit of the UAE delegation marks the beginning of a new phase of bilateral relations, based on investment, innovation, and the promotion of sustainable development for the benefit of both peoples.
He noted that Paraguay offers an attractive investment environment, underpinned by strong economic indicators, including its investment-grade rating, expected economic growth exceeding 4 percent this year, low inflation and unemployment, and record growth in its capital market.