TAIPEI (Taiwan News) — Taiwan will continue to deepen its partnership with Paraguay, President Lai Ching-te (賴清德) said on Tuesday (May 21).

Lai met with Paraguay President Santiago Pena and said he looked forward to Taiwan and Paraguay advancing together toward freedom, stability, and prosperity. He thanked Pena for supporting Taiwan at international forums, per a Presidential Office press release. 

Pena said that although Taiwan and Paraguay are far apart, the bond is very close. He said he was honored to attend the presidential inauguration and witness Taiwan's progress towards peace and prosperity. Paraguay will follow in Taiwan’s footsteps, he added.

Pena said Taiwan's peaceful transition of power was a victory for democracy, demonstrating a commitment to freedom. He emphasized that his visit to Taiwan reaffirmed the strong 66-year diplomatic relationship between the two countries.

The two nations have worked on numerous projects and will continue to do so in the future, Pena said. Paraguay’s success is Taiwan’s success, and Taiwan’s success is also Paraguay’s success, he said.

Pena’s visit comes as his country seeks economic ties with China, which it sees as a potential market for beef and soybeans. 

"We have no constraints on doing trade with China. We would love to do more trade with the PRC," the president said during a visit to Taiwan last July.

In March, Paraguay Foreign Minister Ruben Ramirez said Paraguay was "very committed" to its relations with Taiwan but said the lack of diplomatic relations with China did not hinder economic ties, Nikkei Asia reported. Major Chinese companies do business in Paraguay, including Huawei, Ramirez said.

He hoped to expand trade ties with China through Mercosur, a South American trade bloc including Argentina, Brazil, Paraguay, Uruguay, and Venezuela.

Paraguay is Taiwan's sole diplomatic ally in South America.