The incoming administration of president-elect Nicanor Duarte Frutos, who assumes office on 15 August, will sign the agreement, which should pave the way for improved access to the US market for Paraguayan exports.
Paraguay's export sector is in pretty good shape. Exports grew 38% year-on-year in the first half of 2003, to US$660m. A robust agriculture sector and rising international prices for Paraguay's main exports were behind the surge.
In particular, the average price of Paraguay's two main exports - soya and cotton fibre - has risen by 24% and 39%, respectively, against the same period of last year. As a result, cotton fibre exports increased by 8.4% year-on-year in terms of value, to US$23.1m, even though the volume sold was down 1.4%, at 20,973 tonnes.
Sales of soya products, meanwhile, have been mixed. Soya seed exports increased 100% in value against the previous year, to US$384.6m, while volume was also up by 64%. Exports of soya flour, however, were down against the previous year.
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