New Delhi, June 2 (UNI) Prime Minister Narendra Modi on Monday held a productive meeting with the visiting President of Paraguay Santiago Peña, during which the two sides discussed enhancing economic cooperation and trade linkages.

The PM said in a post on X:

“Had a productive meeting with the President of Paraguay, Mr. Santiago Peña in Delhi. Paraguay is a valued partner in South America and our nations are connected by shared values.

“Our talks covered diverse subjects, prime among which was close economic cooperation.

“There is immense potential in boosting trade linkages. We see sectors such as digital technology, critical minerals, energy, agriculture, health and space as key areas where our nations can work together.”

The Paraguay President said in a post on X that “Paraguay is ready to build bridges with India, with a strategic vision and commitment to a shared future of sustainable growth.”

“India, with its vast population and global leadership in technology and innovation, represents a key strategic partner for Paraguay.

“During my official visit, I had a productive meeting with the Prime Minister @narendramodi , with whom we agreed on the importance of strengthening our bilateral relationship.

“I expressed my gratitude for the warm welcome and shared with him all that Paraguay has to offer the world: clean and renewable energy, fertile land, abundant fresh water, and a hardworking population committed to development and progress.

“We discussed the need to promote closer cooperation in key sectors such as technology, agriculture, health, education, defense, and science, guided by the values we share: peace, development, and mutual respect.”

On his talk with EAM Jaishankar earlier in the day, he posted:

“Together with Indian Foreign Minister Dr. Subrahmanyam Jaishankar, we addressed a broad agenda focused on cooperation in technology, science, education, economics, and trade.

“As a result of this meeting, the foreign ministers of Paraguay and India signed a Memorandum of Understanding that strengthens our bilateral relationship and lays the groundwork for advancing joint projects that benefit both countries.”

The MEA spokesperson said in a post on X that the Paraguayan President strongly condemned the April 22 terrorist attack in Pahalgam and expressed solidarity with the Indian people.

“PM @narendramodi held wide-ranging talks with President @SantiPenap

of Paraguay at Hyderabad House. They discussed enhancing cooperation in the fields on agriculture, Pharma, technology, renewable energy, health, critical minerals, railways & people to people contacts.

“President @SantiPenap strongly condemned the recent terrorist attack in Pahalgam & expressed solidarity with the Indian people. Both sides also exchanged views on global & regional issues of mutual interest.”

On the sidelines, India and Paraguay concluded an MoU for the establishment of a Joint Commission Mechanism between the two nations.

It was inked by External Affairs Minister S Jaishankar and his Paraguayan counterpart Ruben Ramirez.

The EAM said in a post on X:

“Concluded an MoU with FM @rramirezlezcano for establishment of Joint Commission Mechanism (JCM) between India and Paraguay.

“A significant step in widening our dialogue and cooperation.”

Earlier, the EAM had called on the visiting Paraguayan President at the start of his visit to India.

“Pleased to call on President @SantiPenap of Paraguay at the start of his State Visit to India.

“Appreciate his positive sentiments and guidance for enhancing bilateral cooperation in many domains.

“Confident that his talks with PM @narendramodi today will open new avenues for India’s engagement with Paraguay and the South America region.”

The President of Paraguay, who has continued with his country’s pro-Taiwan stance, is on a three-day State Visit to India from June 2 -4.

President Pena is accompanied by a high-level delegation, including Ministers, senior officials and business representatives. He will also visit Mumbai.

The visit is the second by a Paraguayan president to India.

President Peña is a 46-year-old economist and former finance minister.

President Droupadi Murmu is expected to meet President Peña, and host a banquet in his honour.

Vice President Jagdeep Dhankhar is expected to call on the visiting President of Paraguay.

India and Paraguay established diplomatic relations on September 13, 1961, cultivating warm and friendly ties between the two nations.

Both countries have since developed cooperation in various sectors, including trade, agriculture, health, pharmaceuticals and information technology.

Paraguay is an important trading partner for India in the Latin American region. Several Indian companies in the auto-mobile and pharmaceuticals sector have their presence in Paraguay and some Paraguayan companies, mainly through Joint Venture entities, are present in India, thereby contributing to the economic ties between the two nations.

The two countries share common views on various international issues, including UN reforms, climate change, renewable energy, and combating terrorism.

In Mumbai, President Peña will meet the state political leadership, business and industry representatives, startups, innovators and tech leaders.

According to data, bilateral trade between India and Paraguay in 2022-23 was $ 477 million, especially in the automotive and pharmaceutical sectors.

UNI RN