US, Paraguay Sign TIFA
The U.S. and Paraguay on Jan. 13 signed a Trade and Investment Framework Agreement, creating a forum for both countries to engage on issues including market access, intellectual property rights protection and cooperation at the World Trade Organization, the Office…
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of the U.S. Trade Representative announced (here). “Paraguay was a founding member of the World Trade Organization, the first country in South America to ratify the WTO Trade Facilitation Agreement, and has long been a good trading partner of the United States,” U.S. Trade Representative Michael Froman said in a statement. “Today’s agreement provides a vehicle for strengthening U.S.-Paraguayan trade and investment relations and promoting increased economic opportunities for both countries.” Bilateral goods trade totaled approximately $1.7 billion in 2015, up almost 70 percent from 2005, and the U.S. had a $1.4 billion goods trade surplus with Paraguay in 2015.