UAE delegation strengthens trade and investment ties with Paraguay

A senior UAE delegation, led by Reem Bint Ibrahim Al Hashemy, Minister of State for International Cooperation, visited Paraguay on 13th June 2023.

During the visit, Al Hashemy met President-elect Santiago Pena, alongside imminent officials to discuss his new plans after taking office in August 2023.

President-elect Pena hosted a breakfast banquet in honour of the Emirati officials, where the delegation met with relevant counterparts. The banquet was attended by various UAE companies such as Mubadala, ADIA, the Abu Dhabi Fund for Development (ADFD), Masdar, Elite Agro, ADNOC Trading, representatives from COP28, DP World, and the UAE Ministry of Economy.

The UAE-Paraguay Business Roundtable was held at the Ministry of Industry and Commerce, where the delegation met Paraguayan Minister of Industry and Commerce Luis Alberto Castiglioni.

During her opening remarks, Al Hashemy stated, “This Business Forum serves as yet another testament to the strength of our bilateral relations, as both governments share political will, commitment, and successful endeavors towards further elevating our ties.”

She also highlighted that last year, trade has increased with Paraguay by 53 percent, implying a unique opportunity for growth. “In addition, all legislative agreements are in place and ratified to further encourage investment.”

The delegation met with the Minister of Foreign Affairs Julio Cesar Arriola Ramírez to discuss enhancing bilateral relations between the UAE and Paraguay. Al Hashemy received the Paraguayan National Order of Merit. Ramirez highlighted several times the speedy contribution of both vaccines as well as medical supplies in response to the COVID-19 pandemic.

Additionally, President Mario Abdo Benitez hosted a luncheon at the presidential palace in honoعr of the delegation, which was attended by Ramírez, Castiglioni, Oscar Diaz, Minister of Finance, Moisés Santiago Bertoni, Minister of Agriculture, Sustainable Development, Jose Avila, Ambassador of Paraguay to the UAE, and Saeed Abdullah Al Qamzi, UAE Ambassador to the Argentine Republic and Non-Resident Ambassador to the Republic of Paraguay.

The delegation also met with Oscar Salomon, President of the Senate of Paraguay as well as the Chair of the Foreign Relations Committee Lilian Samaniego, where Al Hashemy expressed the UAE’s appreciation of the position of the people of Paraguay in responding to UAE interests and priorities.

Furthermore, a Memorandum of Understanding on Technical Cooperation and a Memorandum of Understanding for Diplomatic Training was signed by Al Hashemy and Julio Cesar Arriola Ramírez during the visit. The memorandum provides for the exchange of academic expertise between the two parties in organising programmes of common interest, exchanging knowledge, and cooperation to attract international speakers and organising joint conferences and workshops.

Alejandro Domínguez, South American football association (CONMEBOL) President, and Leila Rachid de Cowles, Former Foreign Minister of Paraguay, received Al Hashemy and the UAE delegation at the CONMEBOL, the oldest continental football association in the world.

Reem Bint Ibrahim Al Hashemy also led a day earlier a senior UAE delegation to the Argentine Republic on 12 June 2023 aimed at enhancing ties between the two nations across various fields.

The UAE delegation was welcomed by Santiago Cafiero, Minister of Foreign Affairs, International Trade, and Worship of Argentina. During the meeting, both sides discussed ways to strengthen economic exchange and foster cooperation in key sectors such as food security, renewable energy, and technology.

Highlighting the importance of economic ties, the UAE-Argentina Business Forum was held, providing a platform for UAE companies, such as Mubadala and the Abu Dhabi Investment Authority (ADIA), to explore business opportunities and forge new partnerships with companies in Argentina. Al Hashemy delivered opening remarks in which she emphasized the potential for mutual growth and investment between the two countries.

The delegation also discussed with Fabiola Yañez, the First Lady of Argentina, the UAE’s humanitarian efforts in Latin America. They also discussed the impact of climate change on the most vulnerable of the society and ways in which both the UAE and Argentina could partner together to address global challenges, in specific, those pertaining to the empowerment of young people.

Al Hashemy attended a meeting hosted by Anahi Costa, President of the UAE-Argentine Parliamentary Friendship Committee. Both sides reaffirmed their commitment to deepening the bilateral Relationship, including on the parliamentary level.