INSUBCONTINENT EXCLUSIVE:
Japanese Prime Minister Shigeru Ishiba and Paraguayan President Santiago Pena agreed Wednesday to elevate bilateral relations to a
framework that will meet approximately every two years to explore deeper cooperation.This diplomatic upgrade comes as both nations seek to
measures to strengthen ties
Japan will implement visa exemptions for short-term Paraguayan visitors starting in June 2025.Japan and Paraguay Forge Strategic Partnership
(Photo Internet reproduction)The leaders also reached a substantial agreement on an investment pact aimed at encouraging Japanese companies
Strategic RelationsJapanese businesses can leverage this position to enter the South American market with minimal tariff barriers
Current trade figures show Japan exported US$111.23 million to Paraguay in 2024, primarily vehicles, electronic equipment, and
vulnerabilities in certain regional countries have allowed China to expand its influence through infrastructure financing and soft loans
The partnership builds on historical connections between the nations.Japanese immigration to Paraguay began in 1936, and approximately
10,000 people of Japanese descent currently live in the country
Paraguay has maintained diplomatic relations with Taiwan since 1957, despite increasing pressure from China.Both leaders emphasized their
commitment to upholding a free and open international order based on shared values of democracy and the rule of law.This strategic alignment
comes at a critical time as China actively works to expand its diplomatic and economic footprint throughout Latin America.
