MercoPress. South Atlantic News Agency

Bolivia and Paraguay take steps toward improving bilateral trade

The document seeks to boost economic growth in the region

The Bolivian-Paraguayan Chamber and Paraguay's Industry Ministry signed a Memorandum of Understanding (MOU) in Asunción toward strengthening ties and promoting industry and trade between the two countries, it was reported Wednesday.

The agreement seeks to promote the development of industry and trade in both countries through the implementation of dynamic processes and the simplification of procedures, with the purpose of generating a greater attraction of investments and boosting economic growth in the region, it was explained.

Chamber President José Luis Camacho Miserendino highlighted the importance of this alliance, which hopes to establish a solid and sustainable cooperation framework to develop joint strategies to improve industrial competitiveness, foster innovation, and promote bilateral investment. He also stressed the importance of strengthening ties between the two brotherly countries.

Camacho also explained that this document was signed during the 5th Trade Mission to Paraguay held from July 16 to 21, with the participation of more than 25 companies from both nations.

The agreement was signed by Camacho, the Paraguayan vice-minister of Industry, Francisco Ruiz, and the Paraguayan vice-minister of the Investment and Export Network (Rediex), Gilda Arréllaga.