The 23rd ROC (Taiwan)-Paraguay Economic Cooperation Conference was held on Oct. 14, 2025, and was co-chaired by Minister of Economic Affairs Ming-Hsin Kung and Paraguayan Minister of Industry and Commerce Javier Gimenez.

The two sides discussed a range of topics such as cooperation on business investment promotion, market access, infrastructure and innovation technology, science parks, as well as energy and sustainable development, achieving fruitful outcomes in various areas.

After the meeting, the two ministers signed a Memorandum of Understanding to promote future cooperation between Taiwan and Paraguay on renewable energy industry development.

Furthermore, Paraguay committed to providing greater support and assistance to the Taiwan-Paraguay Smart Technology Park. The government of Taiwan will continue to promote investment opportunities in Paraguay to Taiwanese enterprises, aiming to help make Paraguay into a thriving business gateway into the wider South American market.

For the first eight months of 2025, bilateral trade between Taiwan and Paraguay registered a year-on-year increase of over 100% in value. Paraguayan beef and pork products have enjoyed widespread and growing popularity among Taiwanese consumers.

Paraguay is a key partner of Taiwan in South America, with the two sides sharing similar values and a close friendship spanning 68 years. The governments of both sides will continue actively working together to create an even stronger and more sustainable economic and trade partnership moving forward.