3rd ECA committee meeting staged by Taiwan, Paraguay

2020/10/20

The third joint committee meeting under the Economic Cooperation Agreement between Taiwan and Paraguay was held Oct. 16 via videoconference, with the two allies examining results of the pact since its implementation Feb. 28, 2018, according to the Ministry of Economic Affairs.
 
 During this year’s event, MOEA Deputy Minister Chen Chern-chyi said Taiwan and Paraguay have maintained close relations regardless of their geographic distance. The encouraging development of ECA engagement underscores the two sides’ commitment to further strengthening the already friendly ties, he said.
 
 In response, Paraguay Minister of Industry and Commerce Liz Cramer praised the ECA for enhancing the bilateral trade partnership and emphasized her government’s commitment to working with Taiwan to create more business opportunities for both countries.
 
 One highlight of the meeting was discussion of an agreement on mutual recognition of organic agricultural products, the MOEA said. The two sides also exchanged views on issues such as market entry and methods to promote Paraguay’s agricultural exports to Taiwan and the rest of Asia, the ministry said, adding that an investment event will be staged online later in the year.
 
 Ministry of Finance statistics reveal that trade between Taiwan and Paraguay totaled US$105.31 million in 2019, up 39 percent since 2017. Similarly, Taiwan exports to the South American country soared 49 percent last year.
 
 Despite the impact of COVID-19, trade between the two sides continued to increase in the first nine months of the year, the MOEA said. In particular, 17,000 tons of frozen beef products were shipped to Taiwan during the period—more than double the amount in 2017—making Paraguay the country’s second largest source of beef imports, according to the ministry.

Source: Taiwan Today (https://taiwantoday.tw/index.php)