The President of Paraguay advocates for more multilateralism to address global crises

Speaking at the World Trade Organization (WTO) Presidential Talks, President Santiago Peña Palacios stressed that The only effective way to resolve any crisis of multilateralism is with more multilateralism.

In his speech, Peña highlighted the crucial role played by the WTO in promoting peace and prosperity through free trade. According to him, medium-sized countries like Paraguay have a special responsibility to act as mediators and foster international dialogue and consensus.

Peña described Paraguay as one of the most open economies in the world, stating that "the Free trade is a foundation of civilized peoples"He explained that due to its agricultural export nature and its lack of coastline, Paraguay depends essentially on international trade for its economic development. He also stressed that any attempt to isolate itself would be counterproductive for national progress.

During the conference titled “Maintaining multilateralism in times of uncertainty: The role of middle powers,” Peña also advocated for significant reforms in the agricultural sector to improve the global food security and called for an effective system to resolve trade disputes. He also urged members to ensure that environmental measures do not hinder but rather enhance trade. international trade.

The Director General of the WTO, Ngozi Okonjo-Iweala, praised recent economic achievements under President Peña. He noted that Paraguay has recorded some of the highest rates of economic growth in South America according to data from IMFHowever, he noted persistent challenges related to economic diversification and vulnerability to climate change.

In summary, Peña reaffirmed his commitment to a cooperative international order based on clear and fair rules. His speech reflects an optimistic vision on how to face global challenges through a collaborative and inclusive approach within the current multilateral framework.