Paraguay Celebrated for Successful Trade Policy Review and Economic Progress

Paraguay’s economic and trade efforts have earned international recognition following a successful Trade Policy Review. Congratulatory remarks poured in from key global figures, including Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), who lauded the Paraguayan government and its delegation for their achievements.

Led by H.

E. Vice Minister Patricia Frutos Ruiz and H.

E. Ambassador Raul Cano Ricciardi, Paraguay showcased remarkable progress in expanding trade, reducing trade costs, and implementing economic reforms. Of particular note is the country’s impressive 97% implementation of the Trade Facilitation Agreement, a milestone that underscores Paraguay's commitment to streamlining trade processes and fostering growth.

Dr. Okonjo-Iweala highlighted the significance of Paraguay’s accomplishments, stating, “I am happy to see the efforts Paraguay is making to grow its economy, expand trade, and lower trade costs. Congratulations on your 97% implementation of the Trade Facilitation Agreement.”Looking ahead, she expressed optimism about collaborating further to help Paraguay diversify its economy and strengthen its position in global trade.

The successful review is a testament to Paraguay’s dedication to economic reform and trade facilitation, paving the way for enhanced partnerships and sustainable growth.