Republic of Paraguay to expand economic partnership with UAE

Gulf Today, Staff Reporter

President Santiago Peña of the Republic of Paraguay on Tuesday received Dr. Thani Bin Ahmed Al Zeyoudi, Minister of Foreign Trade, and an accompanying delegation during their official visit to Asunción, in the presence of Dr. Sagheer Al Ahbabi, UAE Ambassador to Paraguay.

Al Zeyoudi conveyed the greetings of President His Highness Sheikh Mohamed bin Zayed Al Nahyan; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; and His Highness Sheikh Mansour Bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, to President Peña, along with their wishes for continued progress and prosperity for Paraguay and its people.

President Peña conveyed his greetings to the UAE leadership and affirmed Paraguay’s commitment to expanding trade and investment cooperation with the UAE, in line with the growing momentum of bilateral relations and the strengthening economic partnership between the two countries.

He stressed the importance of leveraging the competitive advantages and strategic positions of Paraguay and the UAE to enhance trade and investment flows, create new opportunities for private sector cooperation, and support the shared economic and development goals of both countries. Al Zeyoudi led a high-level UAE delegation comprising government officials, business leaders and representatives of several Emirati companies.

During the visit, he held meetings with senior Paraguayan officials, including Rubén Ramírez Lezcano, Minister of Foreign Affairs; Marco Riquelme, Minister of Industry and Commerce; and Rodrigo Maluff, Ministerial Advisor at the Civil Cabinet of the Presidency of the Republic of Paraguay.

The visit also featured the UAE-Paraguay Business Forum, attended by President Peña, Al Zeyoudi, Riquelme, Maluff and senior government officials, business leaders and private sector representatives from both countries.

Participants explored opportunities in priority sectors, including technology, digital services, renewable energy, agriculture, food industries, logistics, transport, mining, healthcare and financial services, while highlighting the private sector’s key role in advancing economic cooperation and translating opportunities into sustainable partnerships.

Discussions focused on expanding cooperation in value-added sectors, strengthening trade and investment partnerships, and building on the growing momentum in bilateral relations, reinforcing the two countries’ positions as economic partners linking the Middle East and South America.

Al Zeyoudi said Paraguay is an important economic partner for the UAE in South America and offers significant opportunities to expand cooperation in sectors that support economic diversification and create new growth platforms for the private sector.

“We look forward to taking our economic relations with Paraguay and the Mercosur countries to more advanced levels that support the Sustainable Development Goals, strengthen supply chain resilience and reinforce the UAE’s position as a global bridge for trade and investment between East and West,” he said.

He added that the UAE continues to expand its global network of economic partnerships by developing more efficient and sustainable trade and investment corridors, noting that Paraguay’s economic potential and strategic location make it a promising long-term partner.

Riquelme said economic relations with the UAE are witnessing rapid growth, translating into tangible projects and investments, with significant opportunities to expand cooperation in trade, investment, industry and food security. He described the visit of the UAE delegation as an important milestone reflecting the mutual trust and shared commitment of both countries to strengthening their economic partnership.

Riquelme added that the UAE-Paraguay Business Forum brought together business leaders from the industrial, energy, financial services, logistics, technology and trade sectors to explore new opportunities and build long-term partnerships.

He identified food security as one of the most promising areas for bilateral cooperation, saying the meetings would pave the way for a new phase of economic and trade cooperation serving the interests of both countries.

He urged businesses to seize these opportunities and transform them into partnerships and investments that create jobs and support economic growth, while noting that governments provide the enabling environment and the private sector plays the leading role in turning opportunities into concrete achievements. Non-oil trade between the UAE and Paraguay reached US$249.2 million in 2025, up 53.8 per cent from 2024, reflecting the growing momentum of economic relations and increasing confidence between the business communities of the two countries.