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ABU DHABI / WAM
Sultan bin Saeed Al Mansouri, UAE Minister of Economy, and Eladio Loizaga, Paraguay Minister of Foreign Affairs have discussed ways to enhance economic relations between the UAE and the South American country.
In a meeting with a high level delegation from Paraguay, Al Mansouri called for the intensification of such visits between the two countries. He also recommended the setting up of increased business meetings to strengthen economic and trade relations. Informing that trade between the UAE and Paraguay reached US$68.8 million by the end of 2014, he noted that the large economic fundamentals for both countries offers enhanced scope to build upon existing statistics.
Pointing out the need to sign agreements between the UAE and Paraguay in order to protect and promote financial investments and avoid double taxation, Al Mansouri called for increasing the number of flights between the two sectors for the promotion of tourism in both countries.
Eladio Loizaga, Minister of Foreign Affairs in Paraguay, expressed his country’s keenness in boosting relations with UAE across trade and investments, confirming the presence of opportunities that the two sides can benefit from.
He highlighted the need to establish partnerships with private sector enterprises in the trade and agriculture sectors, saying that his country welcomes Emirati investors and invites their partnership with the UAE in different industries, especially food security.