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Home/Current Affairs/India-Paraguay Relations: Paraguay President’s Visit to Boost Cooperation

India-Paraguay Relations: Paraguay President’s Visit to Boost Cooperation

3 Jun 2025

India-Paraguay Relations: Paraguay President’s Visit to Boost Cooperation

Paraguay’s President is on his first official visit to India adding new dimensions to India-Latin America relations.

  • He is on a three-day visit to India to explore ways to expand overall cooperation.

Key Highlights of the Visit

  • Terrorism: Paraguay supported India in its fight against terrorism by expressing its strong condemnation of the terrorist attack in Pahalgam, Kashmir.
  • Shared Challenges: Both nations discussed and realised the possibility of cooperation in fight against shared challenges such as cybercrime, organised crime, and drug trafficking.
  • Cooperation: Both the nations discussed upon new opportunities for cooperation in areas such as digital technology, critical minerals, energy, agriculture, healthcare, defence, railways, space and overall economic partnership
  • Joint Commission Mechanism (JCM): A joint commission mechanism (JCM) established at the Secretary / Vice-Ministerial level will serve as a key platform to review and advance cooperation in priority areas of mutual interest.
  • Expanding presence in Latin America: New Delhi wishes to further expand its engagement with the South American trading bloc MERCOSUR beyond the preferential trade arrangement route.
  • AgriStack: Paraguay has expressed interest in India’s Agristack Platform to use digital platforms in making its agriculture more efficient.

About India-Paraguay Relations

  • Bilateral diplomatic ties between the two nations were established in 1961.
    • India-Paraguay TiesIndia opened its embassy in Paraguay’s capital Asuncion in 2022. 
  • Bilateral Trade: The India-Paraguay bilateral trade stood at USD 477 million with balance of trade shifted towards India.
    • India’s Exports to Paraguay: It is worth USD 317 million and includes  motor vehicles, agrochemicals, auto parts and pharmaceutical products.
    • India’s Import: India imported goods worth USD 160 million and includes soya oil and related products, iron and steel, aluminium, and animal products.
  • Technical and Development Cooperation: India offers 20 scholarships under the ITEC program to Paraguay.
  • India-MERCOSUR Preferential Trade Agreement (PTA): Preferential duty (10-20 % in most cases) is given to certain Indian Products entering MERCOSUR countries and vice versa. 
    • India offers an additional 10% margin of preference to Paraguay for a Tariff Rate Quota of imports of crude soybean oil up to 30000 MT/year.

About The Republic of Paraguay

  • Paraguay is a landlocked country in South America.
  • Neighbours: It is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest.
  • Capital City: Asunción

About MERCOSUR (Mercado Común del Sur, or Common Market of the South)

  • Established: It is a South American trade bloc established in 1991 including 5 full member states of Brazil, Argentina, Paraguay and Uruguay and Bolivia ( Signed in 2015 and Ratified by Bolivia in July 2024)
    • Venezuela’s membership has been suspended in 2016.
  • Aim: To establish a customs union and a common market, allowing for the free movement of goods, services, capital, and people among member countries.
  • Official Working Languages: Spanish and Portuguese.

Also Read
UPSC Daily Editorials UPSC Daily Current Affairs
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UDAAN PRELIMS WALLAH
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Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

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