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LatinNews Daily - 13 July 2017

Paraguay strikes lucrative trade deal with Taiwan

Development: On 12 July, Paraguay’s President Horacio Cartes signed an economic cooperation accord on trade and investment with Taiwanese President Tsai Ing-Wen.

Significance: President Cartes is conducting a three-day state visit to Taiwan, which concludes today (13 July), during which he has been participating in events marking 60 years of bilateral diplomatic relations. Panama’s recent decision to sever ties with Taiwan in favour of establishing relations with China presents Taipei’s remaining 20 allies (many of them from Latin America and the Caribbean) with a golden opportunity to seal lucrative accords with the country as it seeks to deter further switches of allegiance to China.

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