The Philippines and Paraguay renewed their commitment to deepening economic cooperation, with a particular focus on agriculture, manufacturing and industrial development.
High-level discussions between the two nations concluded with a pledge to enhance bilateral trade, attract new investments and strengthen diplomatic relations for mutual growth.
The Department of Trade and Industry Foreign Trade Service Corps (DTI-FTSC), supported by the Philippine Trade and Investment Center (PTIC-Mexico), facilitated a series of successful meetings from Feb. 20 to 21, 2025 in the Philippines.
The discussions aimed to promote foreign investment in both countries and bolster bilateral trade relations.
DTI Undersecretary Ceferino Rodolfo expressed interest in Paraguay’s trade relationships, while Paraguayan Vice Minister of Trade and Investment Rodrigo Viveros discussed potential trade and investment collaborations with ASEAN countries, particularly in food processing and livestock exports.
Both nations acknowledged their strengths in the manufacturing and energy sectors, agreeing that they could be strategic partners in attracting foreign investors.
Viveros also introduced Paraguay’s Bioceanic Corridor—a strategic transportation route connecting the Atlantic and Pacific Oceans that is expected to boost trade by linking Mercosur markets in the region.
Both parties also agreed to facilitate direct engagement between Filipino and Paraguayan businesses, including potential future visits by Paraguayan business representatives.
Paraguayan delegates highlighted their key agricultural products and export potential to San Miguel Foods which showed interest particularly due to a coconut oil shortage in the Philippine market, presenting an opportunity for trade partnerships with Paraguay.