Paraguay’s President visit to India
03.06.2025
Paraguay’s President visit to India
Context
Paraguay’s President visited India recently, marking a new phase in bilateral ties and deeper trade engagement within the Mercosur framework.
About the News
- Paraguay’s President paid his first official visit to India.
- Talks included cooperation in energy, minerals, and digital tech.
- India-Paraguay ties started in 1961; the embassy opened in 2022.
- India seeks to deepen trade under Mercosur PTA signed in 2004.
About MERCOSUR :
- MERCOSUR is a South American economic bloc formed in 1991 by the Treaty of Asunción.
- Founding members include Argentina, Brazil, Paraguay, and Uruguay; Venezuela is suspended.
- Its aim is the free movement of goods, services, capital, and people.
- Headquarters is in Montevideo, Uruguay; official languages are Spanish and Portuguese.
- India signed a Preferential Trade Agreement (PTA) with MERCOSUR in 2004.
- Paraguay has critical minerals vital for India’s growth sectors.
Conclusion
India and Paraguay are building a stronger strategic and economic partnership, and leveraging Mercosur will play a central role in enhancing South-South cooperation across key sectors