|64.491||United States Dollar|
President Lugo's visit will take place at a time when India is exploring ways to augment trade and commerce with Latin American countries. The President will meet President Pratibha Patil and Prime Minister Manmohan Singh on Friday, the Ministry of External Affairs said in a release here.
In 2011, trade between the two countries was worth USD 152 million with India's exports and exports to and from Paraguay being USD 74 million and 78 million. Paraguay is an important member of the Mercosur with which India has a Preferential Trade Agreement, the press release said, adding that, during the visit, President Lugo will address an India-Paraguay Business Meet organised by the FICCI.
"The visit will also provide an opportunity to further renew India's engagement with Latin America in general and Paraguay in particular, to expand the mutually beneficial relations between the two friendly countries," it said.