Early today at the National Palace, President Enrique Peña Nieto received President of Paraguay Horacio Cartes Jara, currently on an official visit to Mexico.
In order to strengthen ties, negotiations have begun to achieve an Economic Complementation Agreement that will generate greater trade and investment opportunities.
Various legal instruments were signed that will make it possible to move in that direction.
“Our friendship and spirit of cooperation have increased in recent years and are currently at a good stage. Suffice it to say that between 2006 and 2015, our bilateral trade increased more than sixfold, from just over 36 MDD in 2006 to almost 225 in 2015”: EPN
Economic Complementation Agreement
- It will reduce tariffs between the two countries on a greater number of goods.
- In economic terms, it will be possible to go beyond the Partial Scope Agreement No. 38, which has governed economic relations for 33 years, which is already insufficient and limiting, in order to advance towards a better economic relationship between the two countries.
In the past 10 years, bilateral trade increased from just $36 million USD to $224 million USD, an annual increase of 22 percent.
- Paraguay is a major world producer of foods such as soy, beef and seeds. Today Mexico has the opportunity to expand links in the food sector, as well as highly specialized manufactured products.
- A tourist agreement was signed to establish a program to encourage the tourist flow and cooperation between Paraguayan and Mexican travel agencies. In 2015, more than 19 thousand Paraguayans visited Mexico, 22 percent more than in 2014.
- Technical cooperation agreements have been signed on issues such as diplomacy, gender equality, social security, postal services, protection of cultural and artistic heritage and integrated risk management.
"All these agreements are proof of the will of Paraguay and Mexico to strengthen ties and consolidate an increasingly productive friendship and strategic partnership”: EPN