Dubai: President of Paraguay Santiago Pe±a Palacios has highlighted the growing depth of economic and strategic ties between Paraguay and the UAE, saying that the country, which currently holds the presidency of Mercosur, sees 'incredible opportunities' to expand cooperation with the UAE in renewable energy, technology, and infrastructure. "The areas we can work together are unlimited," he said in an interview with Emirates News Agency (WAM) on the sidelines of the World Governments Summit (WGS 2026) in Dubai.
According to Emirates News Agency, Pe±a added that the UAE is no longer just a gateway to the Middle East. 'The UAE has put itself at the centre of the world,' he noted, emphasizing the global connectivity facilitated by Dubai. 'We are trying to connect and make a bridge between the UAE and Latin America, and Paraguay can also play that role, possibly the right partner for this relationship going forward,' he said.
Pe±a pointed out that participating in the WGS 2026 in Dubai is a significant opportunity to engage with world leaders and present Paraguay's development story on this global platform. He remarked on Paraguay's historical isolation, despite its central location among large countries such as Brazil and Argentina. In recent years, Paraguay has focused on increasing its international outreach, aiming to change perceptions and share its history and future prospects.
The Paraguayan President highlighted that the country's GDP grew by 6% last year, marking a strong economic performance. He attributed this growth to reforms and changes implemented in recent years, stating that Paraguay is now 'punching above its weight.' He emphasized Paraguay's relevance in global discussions on food security and energy transition, citing the country's leadership in energy sustainability and its status as a 100 percent renewable energy producer.
Discussing bilateral relations, Pe±a affirmed that Paraguay's relationship with the UAE is robust and expanding. He recalled his first visit to the UAE in 2015 as Minister of Finance, where he was impressed by the leadership's wisdom and clarity. An investment treaty was signed in 2017, and following his election victory in April 2023, the UAE was the first country he visited. Over the past two and a half years, Paraguay has engaged in several projects with the UAE.
Pe±a described the ongoing cooperation with the UAE as a process of discovery and understanding opportunities. He highlighted Paraguay's natural resources and its capacity to produce food for 100 million people, despite having a population of only 6.5 million. He stressed that building lasting partnerships requires trust and confidence, expressing optimism about the future of collaboration between Paraguay and the UAE.