Asunción, Agencia IP.- The Paraguayan Chancellor, Rubén Ramírez Lezcano, and the Ambassador of the United States in Paraguay, Marc Ostfield, subscribed on Wednesday to the modification of the memorandum of understanding on facilitation of trade in agricultural products and extends the implementation of the Agricultural Systems and Technology to Facilitate Trade in Paraguay (T-FAST) project until 2025.
“For the Paraguayan government, it is a motive of special satisfaction to subscribe to modifying the memorandum of understanding. It is an important milestone in the alliance between Paraguay’s Ministry of Foreign Affairs and the Department of Agriculture of the United States. It reaffirms our commitment to encourage the facilitation of commerce in Paraguay”, claimed the Paraguayan Chancellor after the subscription of the document.
He indicated that the T Fast project started its implementation in 2019 and aims to simplify, modernize and harmonize the processes for the exportation, importation and transit of agricultural products in Paraguay, along with the public and private sectors.
“The Project contributes to the reduction of non-tariff barriers to trade and creates improvements in predictability through transparency and automation of foreign trade processes,” he highlighted.
The Chancellor pointed out that the results of the implementation of the project have been promising since they had a positive impact on the strengthening of the national trade facilitation committee, the modernization of support processes with government institutions in agricultural import and export processes, as well as the involvement of trade associations in the promotion of more excellent trade facilitation and the acquisition of equipment to improve agricultural import and export processes.
“We will continue collaborating closely with the Department of Agriculture of the United States to assure Paraguay to integrate the commerce and the chains of worldwide values, to increase its competitiveness and accomplish its economic development”, said the Chancellor.
Ambassador Marc Ostfiel stated that the signing of this memorandum “is another example of the commitment that the United States has to the expansion of trade and inclusive economic growth” in Paraguay.
“The tools we are contributing with the programme Tifas are helping simplify, modernize and harmonize the processes in Paraguay for the exportation and importation of agricultural goods”, highlighted the diplomat.
“We are aware that businesses need a level playing field and legal certainty to attract more foreign investment, which will make Paraguay’s economy grow; at the same time, the transfers will increase, and corruption risks will reduce”, he added.
Moreover, Ostfiel highlighted that the “United States is proud of being one of the main foreign investors of Paraguay, with USD 2.300 million in commercialized goods in 2021”.