Paraguay President Santiago hopes to expand trade between India & Mercosur bloc –

Paraguay President Santiago Pena Palacios, who is on a three day visit to India, today said that he is hoping to expand the trade agreement between India and the Mercosur bloc. Speaking at the IMC Chamber of Commerce and Industry in Mumbai, Mr. Palacios said, both India and the South American nation, part of the four-nation bloc, have a lot to learn from each other. During a business interaction at IMC, President Peña highlighted Paraguay’s stable economy, transparent governance, and commitment to attracting foreign investment. The IMC Chamber of Commerce and Industry signed a Memorandum of Understanding (MoU) with Paraguayan authorities. The agreement aims to strengthen bilateral trade, investment, and economic cooperation. The MoU encourages Indian companies to invest in Paraguay’s key sectors such as agri-business, renewable energy, logistics, pharmaceuticals, and IT, leveraging the country’s investor-friendly policies and access to Latin American markets. Earlier, Maharashtra Governor CP Radhakrishnan welcomed the Paraguay President at Raj Bhavan where Mr. Palacios expressed admiration for India’s development and called for stronger ties in agriculture and renewable energy. The President expressed hope that India, as the world’s fourth-largest economy and largest democracy, will play an even more significant role on the global stage in the years ahead. The President noted that the two nations share many common values and interests, forming a solid foundation for enhanced cooperation across multiple sectors. The President recalled Paraguay’s tribute to Mahatma Gandhi at the UN in 1955 and its adoption of non-violence during its independence movement.A