Prime Minister Kishida’s Attendance at the Japan-Paraguay Business Forum (Summary)

On May 3, commencing at approximately 7:15 p.m. (local time; 8:15 a.m. on May 4, JST) for approximately 30 minutes, Mr. KISHIDA Fumio, Prime Minister of Japan, during his visit to the Republic of Paraguay, attended the “Japan-Paraguay Business Forum” organized by Japanese and Paraguayan business organizations. The overview is as follows.

The forum was also attended by H.E. Mr. Santiago PEÑA PALACIOS, President of the Republic of Paraguay as well as representatives from the Japanese Chamber of Commerce and Industry in Paraguay and Japanese business representatives accompanying the Prime Minister to Paraguay, among others.

1. At the outset, Prime Minister Kishida delivered an address and expressed his desire to enhance economic ties further as well as to conclude an investment agreement with Paraguay, which is a member of MERCOSUR with a market of 300 million people and has investment conditions attractive to Japanese companies such as abundant hydroelectric resources and high-quality labor force. He also expressed his support for President Peña's proactive efforts to improve Paraguay’s business environment and to attract investment to the country.

2. In his remarks, President Peña underlined Paraguay's attractiveness as an investment destination, and gave a presentation on the government's efforts to attract investment. He also expressed his hope that more and more Japanese companies will set up and expand their businesses in Paraguay.

3. On the occasion of Prime Minister Kishida's visit to Paraguay this time, memorandums of cooperation (MOCs) were signed in various fields both in the public and private sectors, including climate change, trade and investment, information and communications, as well as space, and a ceremony was held to announce the signing of these memorundums. The two leaders welcomed the signing of the MOCs and concurred on the further expansion of the scope of bilateral cooperation and exchanges in the future.