DUBAI, 3rd February, 2026 (WAM) -- President of Paraguay Santiago Peña Palacios has highlighted the growing depth of economic and strategic ties between Paraguay and the UAE, saying that the country, which currently holds the presidency of Mercosur, sees “incredible opportunities” to expand cooperation with the UAE in renewable energy, technology and infrastructure.
"The areas we can work together are unlimited,” he said in an interview with the Emirates News Agency (WAM) on the sidelines of the World Governments Summit (WGS 2026) in Dubai.
He added that the UAE is no longer just a gateway to the Middle East. “The UAE has put itself at the centre of the world,” he said, noting that travellers come to Dubai not only to visit the region, but to travel globally.
“We are trying to connect and make a bridge between the UAE and Latin America, and Paraguay can also play that role, possibly the right partner for this relationship going forward,” he said.
Peña pointed out that participating in the WGS 2026 in Dubai is a great opportunity to engage with world leaders and present Paraguay’s development story on a global platform hosted by the UAE.
“Paraguay was known as the island surrounded by land. For many years, we were isolated, even though we are in the middle of large countries like Brazil and Argentina,” he said.
He added that in recent years Paraguay has focused on increasing its international outreach. “We have been interested in reaching out, changing views, and letting people know about Paraguay, about the history, about the situation today, and more importantly, what is coming for Paraguay."
"I have no doubt that among all the rising stars, Paraguay is the brightest one on the horizon,” he said.
The Paraguayan President said his country is performing strongly, with GDP growing by 6% last year. “For many years, the country was punching below its weight. Now we are punching above our weight,” he said, referring to reforms and changes implemented in recent years.
He noted that Paraguay’s capabilities are relevant at a time when global discussions are focused on food security and energy transition. “Paraguay has it all. We are very large producers. We are a leader in energy and sustainability. We are 100 percent renewable energy, and we export a lot,” he said.
Speaking about bilateral relations, Peña said that Paraguay’s relationship with the UAE is strong and steadily growing. He recalled visiting the UAE for the first time in 2015, when he was Minister of Finance and Paraguay was beginning to reach out to international markets.
“I was impressed not with the wealth, not with the buildings. I was impressed with the wisdom and the clarity of the leadership of this country,” he said.
He noted that an investment treaty was signed in 2017, and said that after winning the election in April 2023, the first country he visited was the UAE. “Over the last two and a half years, I have come multiple times. We have engaged in several projects with the UAE,” he said.
Peña said cooperation with the UAE is still a process of discovery and understanding opportunities. “Our country is full of natural resources. We produce food for 100 million people when we are only 6.5 million,” he said, adding that Paraguay is located at the centre of a region with 500 million people.
He stressed that building lasting partnerships requires trust and confidence, expressing optimism about the future of cooperation between Paraguay and the UAE.