TAIPEI – Taiwan and Paraguay signed on Monday an agreement to strengthen bilateral cooperation in trade, investment, infrastructure and education.
The agreement was signed after a meeting between Taiwanese President Tsai Ing-wen and her Paraguayan counterpart, Mario Abdo Benitez.
“We signed with Taiwan a joint agreement to strengthen cooperation in trade, investment, infrastructure and education, emphasizing the development of science and technology,” the Paraguayan president said on his Twitter account on Monday.
Both countries also pledged to continue to deepen their traditional friendship based on shared democratic values.
Paraguay praised Taiwan for assisting in the development of the South American country through investments in economy, education, agriculture, livestock and floriculture.
The two countries will now begin a new phase of bilateral relations, focusing on boosting investment, trade and infrastructure, which will be implemented between 2018-2023, according to a joint statement.
Cooperation in education, science and technology was also discussed in the bilateral meeting, in particular, the Taiwan-Paraguay Polytechnic University, jointly set up in May in Asuncion.
The university seeks to become a technological center, doling out degrees in civil, industrial, electromechanical and computer engineering.
The Paraguayan president had arrived in Taiwan on Sunday on a five-day official visit, accompanied by foreign minister Luis Alberto Castiglioni, minister of education and science, Eduardo Petta, and minister of information and communication, Alejandro Peralta, among others.
Paraguay is Taiwan’s only diplomatic ally in South America and one of 17 countries, which still have official ties with Taiwan and not with China.