Paraguay’s president has held up the UAE as a model for trade-led development, using a bilateral business forum in Asunción to push for a new phase of economic cooperation between the two countries.
Santiago Peña made the remarks at the UAE-Paraguay Business Forum, held in the Paraguayan capital with UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi attending alongside senior officials and business figures from both sides.
Peña said relations with the UAE were advancing quickly and that his country was seeking to build long-term strategic partnerships centred on joint investment and innovation. He pointed to a visit by UAE Minister of State for International Cooperation Reem bint Ibrahim Al Hashimy to Paraguay in March as having opened new avenues of cooperation across government and private sectors, with investment opportunities discussed in logistics, energy, food security, technology, finance, and tourism.
The president cited tangible progress already made. A suburban rail project in Paraguay is receiving UAE backing. The UAE market has been opened to Paraguayan poultry exports, and the country is preparing to ship its first consignment of beef to the UAE.
Looking ahead, Peña called for expanded cooperation in infrastructure, logistics, clean energy, green hydrogen, and data centres. He also pressed for stronger food security partnerships and better financing mechanisms for joint projects. Both governments, he said, were working to create the right conditions for the private sector, but turning opportunity into investment ultimately depended on business-to-business partnerships.
Paraguay’s pitch rested on its economic fundamentals. Peña said the country holds an investment-grade credit rating, expects GDP growth above 4% this year, and has recorded historically low inflation, falling unemployment, and strong capital market performance.
