Paraguay President Santiago Peña arrives in Taiwan this Thursday; meanwhile, the country’s Industry and Commerce Minister Marco Riquelme is leading a delegation focused on key industries from Paraguay, Taiwan’s diplomatic ally, this Wednesday through Saturday.

Taiwan’s Foreign Ministry stated that the delegation includes 39 members spanning three major sectors: food processing, technology and energy, and financial investment. The ministry is arranging visits to Taiwanese companies and institutions with potential for cooperation to further facilitate targeted matchmaking and strengthen the Taiwan-Paraguay supply chain, they said.

Yeh Chih-cheng (葉至誠), director general of the Department of International Cooperation and Economic Affairs, said, “This industrial delegation is made up of 39 business representatives, 19 of whom are food and meat processing companies. To meet Paraguay’s needs in expanding its meat and soybean markets, the Diplomatic Allies Prosperity Project is assisting them in connecting with these companies. In addition to arranging specific meetings and discussions, investment briefings are taking place, inviting domestic food processing and food processing equipment companies to participate.”

The Foreign Ministry underscored Taiwan and Paraguay’s highly complementary industrial cooperation. They said Paraguay possesses abundant agricultural and livestock resources and a stable power supply. Taiwan can add value to the products and expand their sale into international markets with its strengths in food processing and supply chain management, the ministry explained.

Future cooperation, the ministry said, will deepen bilateral economic and trade relations and improve the well-being of the people of both countries.