The European Union is a strategic and key ally of Paraguay, indicated the chancellor

Photo European Union in Paraguay.

Asunción, IP Agency.- Foreign Minister Ruben Ramírez Lezcano pointed out that the European Union is a strategic ally for Paraguay’s commercial insertion and trade negotiations.

The minister participated yesterday Wednesday in the second European Business Meeting, an opportunity in which authorities from the multilateral organization, the Government and representatives of the private sector addressed the importance of trade and increasing trade flows between Paraguay and the EU.

The EU is the main investor in Paraguay, with 27% of the stock of foreign direct investment, estimated at EUR 1.9 billion.

Foreign Minister Ramírez pointed out that Mercosur in the last 25 years has sought the best way to relate economically and commercially with the European bloc.

He said Paraguay is willing to contribute to the environment, but not to mortgage its potential for economic and social development.

“In this context, our negotiations are advanced,” he mentioned, regarding the EU proposal to implement traceability systems in agricultural and livestock production, in order to guarantee their access to the countries of this bloc once the agreement comes into force. Regulation 1115/23 from 2025.

“I can assure you that we have the best will, we have the greatest interest and we are committed to negotiating with the European Union agreements that allow us to cover all the interests of our countries and agreements that are sufficiently balanced,” he concluded.