IBREI Commission President Participates in Meeting with President-Elect of Paraguay

President of IBREI’s Trade, Industry, Services and Tourism Committee Participates in Meeting with Paraguay’s President-Elect, Santiago Peña.

On July 26, 2023, Cristina Reis, President of IBREI’s Trade, Industry, Services and Tourism Committee, participated in the Leaders’ Meeting organized by CEAL – the Business Council of Latin America. The event featured the distinguished presence of His Excellency Santiago Peña, President-elect of Paraguay, in a gathering of great importance for regional integration.

The meeting was chaired by Ingo Ploger, President of CEAL – Brazil Chapter, and was attended by prominent political and economic figures from Paraguay:

Santiago Peña, President-elect of Paraguay;

Juan Angel Delgadillo, Ambassador of Paraguay to Brazil;

Luis Fernando Ávalos, Consul General in São Paulo and Ambassador;

Sebastián Bogado, Commercial Attaché;

Rubén Ramírez, Minister of Foreign Affairs of Paraguay;

Carlos Fernández Valdovinos, Minister of Finance of Paraguay;

Javier Giménez, Minister of Industry and Commerce of Paraguay;

Gustavo Leite, Senator.

The meeting also gathered leading executives and business representatives from various economic sectors:

Nina Teles, Director of CEAL and IPDES;

Weber Porto, Vice President of CEAL Brazil – CA Nitroquímica;

Ric Scheinkman, President of the Brazil–Israel Chamber of Commerce;

Tirso Meirelles, Vice President of SEBRAE-SP;

Leonardo Sologa, Volkswagen Caminhões e Ônibus – International Business.

The event featured comprehensive presentations, beginning with President-elect Santiago Peña, who highlighted Paraguay’s strengths and cultural richness. He provided a historical overview of the country, referencing key moments such as the consequences of the Paraguayan War—the largest international armed conflict in Latin America, fought against the Triple Alliance of the Empire of Brazil, Argentina, and Uruguay. He also addressed the impact of protectionist policies adopted by Brazil and Argentina on international relations and business. Furthermore, Peña emphasized Paraguay’s macroeconomic policy, citing distinguishing factors such as the Ibero-American education treaty, the United States’ preferential procurement system, and Paraguay’s accession to the Organisation for Economic Co-operation and Development (OECD).

Subsequently, Minister Rubén Ramírez spoke about the importance of deeper integration between Brazil and Paraguay, noting that the relationship among Mercosur member states remains underexplored. He emphasized that stronger business cohesion between the two countries could generate significant gains. He also announced that Paraguay will soon introduce direct flights to major Brazilian capitals, an important step toward strengthening bilateral proximity.

Minister of Finance Carlos Fernández then shared his perspective on the role of Paraguay’s central bank in exchange rate policy, highlighting the “float and cushion” strategy as essential to ensuring long-term economic resilience.

Senator Gustavo Leite discussed the advantages of being a small country, which allows the private sector to play a more prominent role while minimizing severe economic impacts on the population a central concern of the government.

Minister Javier Giménez addressed the deregulation bill currently under consideration, describing it as the most relevant legislative proposal in progress. He also discussed the dynamics of political forces at play, emphasizing the Executive Branch’s role in driving initiatives while the Legislative Branch acts as a balancing and traction force.

Concluding the meeting, President-elect Santiago Peña reaffirmed the government’s commitment not to raise taxes over the next five years. He underscored the favorable conditions for Paraguay to achieve both quantitative and qualitative leaps, presenting an optimistic outlook for the country’s future.

The participation of Cristina Reis, President of IBREI’s Trade, Industry, Services and Tourism Committee, in the meeting with President-elect Santiago Peña represented a valuable opportunity to strengthen ties between business and governmental leaders across Latin America, fostering more effective and sustainable cooperation toward deeper regional integration.