MercoPress. South Atlantic News Agency

Bi-Oceanic Corridor to bring Mercosur closer to Asia, Paraguay's FM says

Both foreign ministers highlighted their will to strengthen cooperation on international issues

Paraguay's Foreign Minister Euclides Acevedo said the Bi-Oceanic Corridor will bring Mercosur's entire economic development closer to Asia. His remarks came at a press conference after meeting with his Japanese counterpart Yoshimasa Hayashi in Tokyo earlier this week.

Both top diplomats announced they had agreed to advance a mutual cooperation agenda and also found it necessary to implement integration and economic reactivation projects to “revitalize bilateral economic relations,” according to the Japanese Foreign Ministry in a statement after the meeting.

The foreign ministers met Monday during Acevedo's three-day visit to strengthen ties between the two countries.

As per these discussions, Japan will offer Paraguay “technical assistance for micro, small and medium-sized enterprises” (MSMEs) with a view to “supporting a speedy economic recovery and revitalization of Paraguayan society” after the impact caused by the COVID-19 pandemic, the Japanese minister explained.

Hayashi also highlighted his country had been supplying medical equipment to Paraguay during the pandemic, and stressed that Japan “will continue to offer cooperation for the economic and social development of the country, including infrastructure development.”

He also underlined the ties between the two countries, and recalled that some 10,000 Nikkei or descendants of Japanese immigrants live in Paraguay, “an important partner” with whom Tokyo shares the values of freedom, democracy or respect for human rights.

Both foreign ministers also highlighted their will to strengthen cooperation on international issues such as maintaining stability in the Indo-Pacific region or in the fight against global warming, according to Japanese sources.

Acevedo was also making arrangements for a future state visit by President Mario Abdo Benítez.

Japan's former Foreign Minister Toshimitsu Motegi had paid a visit to Paraguay earlier this year.

Acevedo also pointed out that works such as the Bioceanic Corridor will allow the integration of Paraguay and its connection with the main markets of the Pacific Ocean. The Bi-Oceanic Corridor will allow the entire economic development proposal of Mercosur to be brought closer to Asia, he said at a press conference.

Paraguay's Foreign Minister then confirmed his country's participation at the 2025 Osaka World Expo.