*Paraguay’s trade & industry minister, Javier Giménez, has signed an agreement to boost trade and investment cooperation with South Korea, during a meeting with his Korean counterpart, Cheong Inkyo, in Seoul. In a statement, South Korea’s ministry of trade, industry, and energy describes the Korea-Paraguay trade and investment promotion framework (TIPF) memorandum of understanding (MOU) as the “first intergovernmental cooperation channel for trade, industry, and energy”. During his visit to South Korea, Giménez led a Paraguayan delegation to visit the factories of Korean vehicle manufacturers DNA Motors and KGM Commercial to “learn about the technical facilities of both companies”, particularly in terms of electric vehicle production. Giménez and Cheong planned to hold further discussions on details regarding future cooperation through the trade and investment cooperative council (TICC) under the TIPF, as well as discussing the advancement of the trade agreement between South Korea and the Southern Common Market (Mercosur) trade bloc, which comprises Paraguay, Argentina, Brazil, Uruguay, and Bolivia.
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LatinNews Daily - 23 August 2024
In brief: Paraguay boosts trade cooperation with South Korea
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