• Vice President of India visited two countries Costa Rica and Paraguay.
• Paraguay and Costa Rica are important partners of India in Latin American and Caribbean region respectively.
• Diplomatic relations between India and Paraguay were established in 1961.
• During the visit, it was decided to strengthen the relations even more.
• Paraguay has also condemned the terror attack on Indian security forces in Pulwama.
• Bilateral trade between India and Paraguay has been growing.
• It was $40 million ten years ago and today it stands close to $375 million.
• During the visit, it was decided that efforts will be made to diversify and expand the trade basket.
• Discussion on India’s engagement in MERCOSUR also took place during the visit.
Cooperation & People-2-People Contact
• New areas for collaboration were identified between the two countries like renewable energy, health, ICT, space, biotechnology, railways, and tourism-related infrastructure.
• To build people to people contacts there was a discussion on how to make travel easier between two countries.
Mains Paper 2: International Relations
Prelims level: India-Paraguay
Mains level: Read the story