Mexico and Paraguay strengthen bilateral economic relations

On 9 November 2016, Paraguay's Ministry of Industry and Commerce received a Mexican commercial delegation made up of investors and businesspeople, with the objective of strengthening commercial links between the two countries. This followed a meeting between President Horacio Cartes and Mexican President Enrique Peña Nieto. The Mexican delegation comprised business representatives from the construction, real estate, water processing, and robotics sectors (Webpicking). One of the key developments during the meetings was the discussion of an agreement for "Economic Complementarity," which will provide for the liberalization of trade between the two countries and could enter into force in September 2017. Paraguayan Vice Minister for Trade, Óscar Stark, pointed out the importance of the agreement since Paraguay is the sole Mercosur member that does not have a trade agreement with Mexico, something which has impeded growth in trade relations between the two nations. Vice Minister Stark announced negotiations will take place during the first nine months of 2017, and the agreement will then be referred to the different political institutions in Mexico and Paraguay for their approval (Hoy).