TAIPEI (Taiwan News) — Taiwan Minister of Economic Affairs Wang Mei-hua (王美花) flew to Paraguay and met with President Santiago Pena and Minister of Industry and Commerce Francisco Javier Gimenez on Friday (Aug. 18), the same day Lai Ching-te returned to Taiwan from his Paraguay trip, to share views on bilateral economic ties.

Wang flew to the country to attend the 22nd Taiwan-Paraguay Economic Cooperation Conference.

Pena shared on Twitter that the two talked about "the historic cooperative relationship between our countries and the challenges that Paraguay has to face in its social and economic development.”

According to QuePasa Media Network, Gimenez said he discussed various cooperation issues with Wang, including partnering in oil and gas exploration in Paraguay’s Chaco region, increasing its meat exports to Taiwan, and introducing Taiwanese technological expertise to the country.

He also mentioned that Taiwan is interested in developing Paraguay’s electric bus industry.

Gimenez said Paraguay seeks to strengthen its economic and trade relationship with Taiwan, which he called a crucial, strategic partner.

Regarding tariff negotiations, Gimenez indicated that Taiwan and Paraguay are set to begin talks on expanding tariff preferences for Paraguayan meat exports to Taiwan. This would be a significant advantage for Paraguayan meat producers, leading the country to consider including more items in the list of tariff-preferential products, he said.

The industry minister also said he and Wang brought up Taiwan's assistance programs for Paraguayan small and medium-sized enterprises and women's empowerment.