ASUNCION, 16th August, 2023 (WAM) -- Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, attended the swearing-in ceremony of Santiago Pena as the new President of the Republic of Paraguay in Asuncion on Tuesday.

Al Zeyoudi conveyed the congratulations of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, who all extended their wishes for the continued prosperity of Paraguay and its people.

In return, President Santiago Pena offered his good wishes to His Highness Sheikh Mohamed bin Zayed, His Highness Sheikh Mohammed bin Rashid, His Highness Sheikh Mansour bin Zayed and the people of the UAE. He also expressed his appreciation for the participation of the UAE delegation in the ceremony and for the nation's long-standing friendship with Paraguay.

The presence of Dr. Thani at the presidential inauguration ceremony reflects deepening economic relations between the two nations. In 2022, bilateral non-oil trade exceeded US$57.3 million, a growth of 53.3 percent compared to 2021 and up more than 122 percent on 2020.

Across multiple official state visits in recent months, the two sides have been working closely to further accelerate the flow of goods.

At an official meeting with President Santiago Pena and Ruben Ramirez Lezcano, Paraguay's Minister of Foreign Affairs, Al Zeyoudi commended the strong diplomatic ties between the two nations and underlined the UAE's commitment to enhancing trade and investment cooperation in areas of mutual interest, in particular renewable energy, mining, banking and food security.

The meeting took place in the presence of Saeed Abdullah Al Qamzi, UAE Ambassador to the Argentine Republic and Non-Resident Ambassador to the Republic of Paraguay.

Dr. Thani also met Paraguay's new Minister of Trade, Javier Jimenez, to review the countries' trade relationship and discuss ways to boost bilateral trade volumes.

He also held talks with Sergio Diaz-Granados, Executive President of the Development Bank of Latin America and the Caribbean (CAF), to advance cooperation on infrastructure investment, knowledge sharing and capacity building, all vital for Paraguay's long-term, sustainable growth.