Trade between Paraguay and Taiwan grew from US$40 million in 2018 to US$260 million in 2022, some 700% in 4 years, assessed Minister Luis Alberto Castiglioni, head of the portfolio of the Ministry of Industry and Commerce.
“In general, trade between Paraguay and the Republic of China (Taiwan), of around US$ 40 million in 2018, it went to US$ 260 million in 2022, that is, a growth of almost 700% in four years, the result of the strategy elaborated by this government with the sister Republic of China (Taiwan)”, said Minister Castiglioni.
The Secretary of State carried out an evaluation of the economic cooperation, the commercial relationship and the future plans and projects between our country and Taiwan this weekend, on the last day of the visit of the official Paraguayan delegation to the Asian country from 14 to February 18 of this year, headed by President Mario Abdo Benítez. The delegation returned yesterday to the country from Taipei, the capital of Taiwan.
Minister Castiglioni maintained that these moments, Paraguay and Taiwan are in “another historical stage”, in which trade definitely marks our relationship and opens opportunities for all”. He meant that the goal is precisely “to obtain the investments of businessmen from Taiwan in Paraguay, from the private sector.”
At the Investment Forum (Invest), held in Paraguay in 2022, the President of the Republic received important investors from Taiwan, in the food sector, and in the construction of electric buses, who foresee some US$ 100 million per year in 5 years, thus reaching US$ 500 million in total. “It will change the entire bus system in the country. It will not be another investment, but rather it will revolutionize everything”, he highlighted.
“With the opening of the Taiwanese market to pork, the possibilities of entering other markets are opened due to the high standard of demand that the Republic of China (Taiwan) has. There is a potential of US$250 million in Taiwan. This has been achieved in 4 years of intense relationship work, which I am sure will continue. Paraguay is playing for Taiwan, because Taiwan supports and loves our country,” Castiglioni finally said.
Read more: First shipment of pork to Taiwan marks a milestone, they highlight
