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INDONESIA AND PARAGUAY: New Prospects for a Greater Partnership

By Peter Tase

On November 29th, 2014, Paraguay will celebrate the 33rd anniversary of the establishment of its diplomatic relations with the Republic of Indonesia, the world’s fourth largest nation with over 252 million people and one of the N – 11 Economies and together with Paraguay is also a memberof the Group of Eleven (G11), whose efforts are focused towards reducing poverty. Both nations became members of the World Trade Organization in 1995.  Although there is a great potential to further strengthen the commercial, political and economic partnership between the two countries, unfortunately, the Foreign Ministry of Paraguay is looking the other way, even though Jakarta is one of the fifteen most important commercial partners of Paraguay.  The South East Asian giant in 2012 has imported over US$19.5 million, meanwhile there is a significant increase of imports in 2013, reaching over US$121.8 million worth of goods a services.  Despite of the unmatched strategic importance that exists in exploring the tremendous business opportunities that can be accomplished throughout a FREE TRADE AGREEMENT framework between Indonesia and Paraguay as well as Paraguay and THE ASEAN nations (currently the world’s largest trading group together with Japan, China and Russia).  Unfortunately Paraguay continues to drag its feet and continues to postpone these commercial opportunities of once in a lifetime.  However, these commercial agreements are considered highly beneficial and the efforts undertaken by Minister Gustavo Leite and his Ministry of Industry and Commerce (MIC) as well as Paraguay’s Network of Investments and Exports (REDIEX) are truly admirable and certainly demonstrated a great performance, Asuncion for the first time has a visionary and a pragmatic leader as the head of its Ministry of Industry and Commerce.  At the same time, in order to fully implement Paraguay’s national agenda abroad and

Read the Article:

http://www.thebalitimes.com/2014/07/26/indonesia-and-paraguay-new-prospects-for-a-greater-partnership/

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