UAE, Paraguay sign MoUs

Asuncion, Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation of the UAE, visited Paraguay to reinforce cooperation between the two countries in the political, economic and trade sectors. During the visit, Al Hashimy met with President Santiago Peña of Paraguay, and conveyed the greetings of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE. The meeting discussed means to enhance bilateral relations in various fields, including sustainability, the economy, and infrastructure development, according to the Emirates News agency (WAM). In addition, Al Hashimy commended Paraguay for prioritising MERCOSUR's Comprehensive Economic Partnership Agreement (CEPA) negotiations with the UAE, highlighting the successful conclusion of the first round of negotiations during Paraguay's presidency of the MERCOSUR trade bloc. She emphasised that signing the CEPA will positively impact trade and investment flows between the UAE and MERCOSUR member states, highlighting Paraguay's s trategic importance in South America. Discussions also included bilateral cooperation and investment opportunities in the field of logistics and transportation such as airports, and the joint declaration on the Bi-Oceanic Corridor, which was signed during COP28 and includes the UAE, Brazil, Paraguay, Argentina, and Chile. Source: Bahrain News Agency