Paraguay ‘would welcome’ more China commerce, and Taiwan would be better for growth.

Paraguay 'would welcome' more China commerce, and Taiwan would be better for growth.
Paraguay ‘would welcome’ more China commerce, and Taiwan would be better for growth.

In the city of Taipei, according to a report from Reuters, During a visit to Taipei, Paraguay’s president-elect Santiago Pena expressed a strong interest in expanding trade relations with China. However, he believes that Taiwan presents a more promising opportunity for Paraguay to enhance its predominantly agricultural economy and advance along the value chain.

Paraguay is the final South American nation to maintain official diplomatic relations with Taiwan, a territory China asserts as its own. Honduras terminated its longstanding diplomatic ties in favor of Beijing earlier this year, reducing to only 13 countries that currently acknowledge Taiwan.

During his election campaign, Pena committed to upholding the longstanding relationship with Taiwan, spanning over six decades. This decision was made despite the agricultural sector in Paraguay exerting pressure to explore profitable Chinese markets for soybeans and beef.

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During a press conference, Pena expressed his unwavering dedication to Taiwan and expressed satisfaction with his recent engagements, including meetings with President Tsai Ing-wen and Economy Minister Wang Mei-hua.

Our ability to engage in trade activities with China has no limitations or restrictions. The speaker expressed a strong interest in expanding trade relations with the People’s Republic of China (PRC).

However, Paraguay’s dependence on a solitary market is not feasible due to its limited size, which hampers its ability to negotiate on equal terms with larger countries like Brazil or the United States. Additionally, Paraguay aims to avoid an influx of Chinese goods while being restricted to exporting raw materials only.

Paraguay exhibits significant potential in food production, albeit currently operating at a nascent phase. Our company specializes in offering goods with minimal value-added features. The individual mentioned grains, soy, and beef.

To enhance the delivery of value-added services, it is imperative to establish a more robust partnership with Taiwan. This collaboration will significantly contribute to the development of our industrial sector, surpassing the potential progress that could be achieved through relations with China.

Pena, the incoming official who assumed office on August 15th, expressed uncertainty regarding the attendance of Tsai or Vice President William Lai at the ceremony. However, he said his enthusiasm to welcome either or both individuals. Notably, Lai is a candidate in Taiwan’s upcoming January elections, vying to succeed Tsai.

There is a strong expectation that the delegation will be substantial and composed of high-ranking individuals.

If Lai decides to proceed with his travel plans, he would probably opt for a route through the United States. This route would officially be considered a stopover. Still, it would allow him to engage with U.S. officials and discuss his policy priorities in the event of his successful election. According to the majority of opinion polls, Lai is currently leading.

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The presidential office of Taiwan has indicated that they are currently in the planning phase to determine the attendees for an upcoming event. An official announcement will be made once all the necessary details have been finalized.

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