Paraguay is seeking more Taiwanese investment to diversify its farm-driven economy focused on exporting raw materials to China, incoming Finance Minister Carlos Fernandez Valdovinos said in an interview.
Paraguay remains the only South American nation with formal diplomatic relations with Taiwan, which China claims as its own territory. As Paraguay prepares for the Aug. 15, it has reinforced its 70-year friendship with the democratic island, even as China ramps up diplomatic and military pressure.
A Taiwan delegation including business leaders will travel to Paraguay in August for the inauguration of conservative President-elect Santiago Pena, he added.Paraguayan farmers who support switching ties to China to boost the landlocked country's agricultural exports "are not seeing the risks" that Beijing presents, Fernandez said.
Paraguay's cattle ranchers had been pressuring officials to gain access to the lucrative Chinese market for their beef before theBig meatpackers say they can get better prices elsewhere, as demand for more specialized cuts and processed foods grows.
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