Asunción, Agencia IP.- The Minister of International Cooperation of the United Arab Emirates (UAE), Reem Al Hashimy, paid her second official visit to Paraguay this Wednesday as part of an agenda aimed at attracting investment and cooperation, leveraging the existing legal and regulatory framework between the two countries.
«Paraguay has done a great deal to become an attractive destination for Emirati business. We see Paraguay as our gateway to South America. We are getting to know this country better, and we already have legal and cooperation frameworks in place,» the Minister said at a press conference following her meeting with President Santiago Peña.
Current cooperation and investment agreements
Through the Ministry of Industry and Commerce (MIC), a cooperation agreement has been in force since March 2023 to identify priority areas for economic and trade relations. This is complemented by a cooperation agreement for the development of carbon credit markets, signed in December of the same year.
Minister Al Hashimy is making a repeat visit to Paraguay. During her previous visit, she signed a memorandum with the National Directorate of Civil Aeronautics (Dinac) to finance the expansion and modernization of Silvio Pettirossi International Airport.
During COP28 in the UAE, Paraguay, Brazil, Chile, and Argentina signed a joint declaration of cooperation with the Arab country to develop the Bi-Oceanic Road Corridor, which aims to pursue logistical opportunities along the route linking the Atlantic and Pacific oceans.
President of the Republic Santiago Peña advanced this cooperation and investment agenda during his official visit to the Arab country, which included a meeting with its leader, Sheikh Mohamed bin Zayed Al Nahyan.
Investment projects
The UAE will announce investment projects in the coming weeks, authorities reported. In previous meetings between officials from both countries, projects such as the expansion of Silvio Pettirossi Airport were discussed, as well as the possibility of financing part of the Bi-Oceanic Road Corridor.
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