Jauhn Etienne Villaruel

Article (news)

Katrina Domingo

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px;display:block" width="960"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1778467482955HH_Gd5VboAArSmz (5).jpg" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner" style="text-align:left">President Ferdinand Marcos Jr. and Paraguay President Santiago Peña Palacios convened in Malacañang on Monday as the Philippines and Paraguay push to forge deeper relations while both countries are heading their respective regional trading blocs. <em>PCO/Facebook/screengrab</em></span></span></span></div><p>MANILA (<strong>2nd UPDATE</strong>) -- President Ferdinand Marcos Jr. and Paraguay President Santiago Peña Palacios convened in Malacañang on Monday as the Philippines and Paraguay push to forge deeper relations while both countries are heading their respective regional trading blocs.</p><p>Marcos Jr. is the current chairperson of the 11-member Association of Southeast Asian Nations (ASEAN), while Palacios heads the pro tempore presidency of the Mercado Comun del Sur (MERCOSUR) which covers nearly the entire South American economy.</p><div><a class="fr-green fr-strong" href="https://www.abs-cbn.com/news/nation/2026/5/10/paraguay-president-arrives-in-ph-for-2-day-visit-1658">READ: Paraguay president arrives in PH for 2-day visit</a></div><p>&quot;I am actually very optimistic in that in our discussion earlier, what came out was a remarkable parallel in the way that our countries are developing ourselves and how we view each of our countries, the Philippines views itself as a gateway to Asia and Paraguay a gateway to Latin America,&quot; he said.</p><p>&quot;I raised the possibilities of Philippine export of tuna, sardines, milkfish, and other products to Paraguay, which will certainly give a boost to our local industry,&quot; he added.</p><p>&quot;That connection, should we make it and should we strengthen it, will be a remarkable boon not only to your country and mine, but also to the regions from where we come from.&quot;</p><p>Paraguay seeks to position itself &quot;as a key logistics bridge between the Atlantic and the Pacific,&quot; Peña told Marcos during their bilateral meeting.</p><p>&quot;Paraguay — a landlocked country — sees an unprecedented strategic opportunity to integrate competitively into Asian markets,&quot; he said.</p><p>&quot;This corridor will significantly reduce transportation costs, diversify exports and drive investment… generating employment and added value,&quot; he said.</p><p>&quot;This convergence opens a valuable opportunity to bring both our parts of the world together and to advance towards a more closer dialogue between South America and Southeast Asia.&quot;</p><p>Marcos and Peña attended a bilateral meeting with the following officials:</p><div><br/></div><div><strong>PHILIPPINES</strong></div><p>- Secretary Cristina Roque, Department of Trade and Industry</p><p>- Secretary Theresa Lazaro, Department of Foreign Affairs</p><p>- Secretary Sharon Garin, Department of Energy</p><p>- Philippine Ambassador to Buenos Aires Grace Cruz-Fabella</p><div><br/></div><div><strong>PARAGUAY</strong></div><p>- H.E. Francisco Javier Gimenez, Civil Cabinet of the Presidency</p><p>- H.E. Marco Riquelme, Ministry of Industry and Commerce</p><p>- H.E. Ruben Ramirez Lezcano, Ministry of Foreign Affairs</p><p>- Gov. Cesar Sosa Fariña, Department of Guaira</p><p>- H.E. Lucas Strubing, State Ceremonial</p><p>- Paraguayan Ambassador to the Philippines Miguel Angel Romero</p><div><br/></div><p>The two leaders later on witnessed the signing of the Visa Waiver Agreement as well as a deal on closer diplomatic training and cooperation between the Philippines and Paraguay.</p><p>Manila and Asuncion are expected to further talks in the trade and energy sector after the Philippines opened its market to imported meat from the South American country.</p><div><a class="fr-green fr-strong" href="https://www.abs-cbn.com/news/nation/2026/5/11/philippines-paraguay-ink-visa-free-deal-for-ordinary-passport-holders-1334">READ: Philippines, Paraguay ink visa-free deal for ordinary passport holders</a></div><p>&quot;This milestone demonstrates the capacity of our productive sector to access one of Asia&#x27;s most demanding and dynamic markets with more than 100 million consumers,&quot; Peña said.</p><p>&quot;Likewise, we see significant opportunities to broaden our export offering in grain, maize, oil seeds and agro-industrial products in respect to Philippine demands to food security,&quot; he said.</p><p>&quot;We aspire for this trade flow to expand and diversify in a sustained manner, consolidating Paraguay as a reliable supplier of animal protein in Southeast Asia.&quot;</p><p>As of 2020, MERCOSUR&#x27;s combined gross domestic product stands at around $1.92 trillion, according to data from the ASEAN Secretariat.</p><p>The total bilateral trade between the two trading blocs is pegged at $33.3 billion in 2023, while foreign direct investments accounted for $5.86 million in 2022, data showed.</p><p>In 2022, Manila encouraged Asuncion to make the Philippines its entry point to the ASEAN market, noting that trade relations between the two countries &quot;have remained stable but modest.&quot;</p><p>In 2025, Paraguay exported its poultry products to the Philippines for the first time.</p><p>The Paraguayan President also noted that Asuncion also &quot;observes with great interest the dynamics of this region and the role that the Philippines plays in the Indo-Pacific.&quot;</p><p>&quot;We are starting to strengthen our ties with ASEAN, including your approach to the Treaty of Amity and Cooperation in Southeast Asia, for which we have already submitted our own intention to accede, and we hope you would consider in the next ASEAN meeting,&quot; he said.</p><p>Peña arrived in Manila on May 10, and laid a wreath before Jose Rizal&#x27;s Monument before his trip to Malacañang.</p><div><br/></div><div><strong>RELATED VIDEOS</strong></div><div><strong><br/><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/Z6cYXMRGPcQ?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></strong><br/></div>

<p>President Ferdinand Marcos Jr. and Paraguay President Santiago Peña Palacios convened in Malacañang on Monday as the Philippines and Paraguay push to forge deeper relations while both countries are heading their respective regional trading blocs.</p>

President Ferdinand Marcos Jr. and Paraguay President Santiago Peña Palacios convened in Malacañang on Monday as the Philippines and Paraguay push to forge deeper relations while both countries are heading their respective regional trading blocs.

Marcos meets Paraguay's Peña in Malacañang as both eye deeper trade relations

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Marcos meets Paraguay's Peña in Malacañang as both eye deeper trade relations

Katrina Domingo,

ABS-CBN News

Published May 11, 2026 10:45 AM PHT

|

Updated May 11, 2026 04:58 PM PHT

Read More:

Ferdinand Marcos Jr.

Santiago Peña Palacios

Paraguay

MERCOSUR

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