MercoPress. South Atlantic News Agency

Paraguayan FM in Brazil to discuss Itaipú and other Mercosur matters

Acevedo held a working meeting with his Brazilian counterpart Carlos Alberto Franco França,

Paraguay and Brazil have exchanged reverse notes on the creation of the Itaipu Binational Accounts Commission last week during an official visit from Foreign Minister Euclides Acevedo to Brasilia, it was announced.

The binational commission is to oversee the accounts and carry out audits at the hydroelectric plant, in addition to pproviding financial, budgetary, operational and patrimonial control and an oversight mechanism for the entity.

Acevedo conveyed to the Brazilian authorities Paraguay's position to maintain the current Itaipu rate until 2023, as well as the conditions for contracting power from Brazilian electriocity supplier ANDE.

“Today we have transmitted to Brazil the official position of the Government to negotiate with them, and the position of status quo, read the holding of the rate and the conditions of the contract of the National Electricity Administration,” Acevedo said.

Acevedo held a working meeting with his Brazilian counterpart Carlos Alberto Franco França, during which the keeping of the rate was raised precisely to reach 2023 in an orderly manner, so as to preserve advantages for both parties. The minister also explained that this stance will allow both partners to continue benefiting from binational entrepreneurship as a development factor.

The Paraqguayan minister said it was in their best interest for both parties to see to the maintenance of the turbines, which, according to estimates, have a working life expected to last until 2035, when technological updating will be required, as well as infrastructure works, such as the construction of bridges and other works.

“We need the technological update, infrastructure works and others, and Brazil is committed to meeting the requirements of our country. They have committed to meeting our proposal that above all things what they are looking for, I repeat, is the advantage for both ends,” he specified.

Acevedo also explained that Ambassador Manuel María Cáceres, general director of Itaipú Paraguayan end; ANDE CEO Félix Sosa, directors Manuel Aquino Etcheverry and Gerardo Blanco, and the financial director of Itaipú, Fabián Domínguez, were in charge of presenting the arguments of the proposal and the different fundamentals in energy matters.

At the working meeting, various topics of interest to both countries were discussed, among which the signing of the reverse notes of constitution of the Binational Accounts Commission of Itaipu, by both foreign ministers, stood out.

Acevedo and França also discussed the fight against COVID-19 and organized crime as well as the modernization of Mercosur, among other topics.