This newspaper ABC Color wrote that Vietnam is a potential market for Paraguayan trade, especially in terms of such agricultural products as soya beans and meat.

A screenshot photo of the article published by ABC Color. (Source: VNA)

It cited Gimenez as affirming at a meeting with Vietnamese Minister of Industry and Trade Nguyen Hong Dien on May 24 that the visit aimed to promote and assist with a visit to his country by a Vietnamese business delegation to step up cooperation chances and bilateral trade.

Paraguay is striving to seek and expand new markets for its soya bean, meat as well and other products, especially members of the Association of Southeast Asian Nations (ASEAN) with 700 million people, including Vietnam, according to the official.

During the visit, Gimenez also had working sessions with Vietnamese enterprises, including Viettel - a major telecommunications group in Southeast Asia.

The Paraguayan minister emphasized the need to launch negotiations on a free trade agreement between the Southern Common Market (Mercosur) and Vietnam. He said holding the rotating presidency of Mercosur in 2024, Paraguay will strongly promote this issue, ABC Color reported.

Paraguay is one of the 10 largest trade partners of Vietnam in Latin America, with bilateral trade topping 280 million USD in 2023, a 22.2 per cent increase year on year. Vietnam mainly exports coffee, sports shoes, electric fans, rubber, bamboo, and rattan items, ceramic products, and apparel to Paraguay while importing soya bean powder, beef and by-products, leather, and timber from the latter.