BCCI and the Embassy of Paraguay Plan to Hold Virtual Meetings in the First Half of 2026 to Promote Bilateral Trade and Investment Relations

H.E. Juan Francisco Facetti, Ambassador of Paraguay to Vienna, also accredited to Bulgaria, visited the Bulgarian Chamber of Commerce and Industry (BCCI) and met with its President, Mr. Tsvetan Simeonov. This is the first visit of a Paraguayan ambassador to BCCI, which creates a foundation for sustainable future trade and investment ties between Paraguay and Bulgaria.

Ambassador Facetti outlined Paraguay’s competitive advantages, emphasizing the fact that the country is a leader in the carbon emissions market. He noted that forests cover 44% of Paraguay’s territory, enabling projects with high-quality carbon credits such as Chaco Vivo (with direct impact on local communities and protection of wildlife species such as the jaguar). In Paraguay, 187 916 hectares of biodiverse forest (Gran Chaco) are protected. 

Ambassador Facetti informed that this opens opportunities for Bulgarian companies to use these credits for immediate ESG/climate-neutral purposes at competitive prices.

During the meeting, information was also exchanged on arbitration proceedings, drawing on the 128 years of experience of the BCCI’s Arbitration Court. Ambassador Facetti shared that Paraguay’s Arbitration Court operates under the UNCITRAL rules and contractual models, ensuring reliability in cross-border trade agreements.

The EU–Mercosur Agreement was also discussed, with gratitude expressed for Bulgaria’s support for the progress of the trade deal. Ambassador Facetti informed that in July 2025, the member states of the European Free Trade Association and Mercosur concluded negotiations on a comprehensive free trade agreement.

The leading business event in Paraguay – FEPY 2025, aimed at promoting international cooperation and sustainable growth – was also presented.

At the end of the meeting, Simeonov and Ambassador Facetti agreed on next steps to strengthen bilateral relations between Bulgaria and Paraguay, including organizing virtual meetings in the first half of 2026 to present Paraguay’s tax incentives and specific sectors with investment potential.