【Photo Credit: CIECA】
The Republic of Paraguay is an important diplomatic ally of Taiwan, and the two countries have developed a strong foundation of cooperation in technology talent development. With the support and assistance of Taiwan’s Ministry of Foreign Affairs, Dr. Yi-Cheng Kao, President of the Taiwan Academy of Banking and Finance (TABF), visited Paraguay in August last year at the invitation of the Paraguayan banking sector to share Taiwan’s experience in economic and financial development, as well as to explore opportunities for cooperation in financial talent development.
In conjunction with the visit to Taiwan by H.E. President Santiago Peña of the Republic of Paraguay and his delegation, TABF and the Taiwan-Paraguay Polytechnic University (UPTP) attended the Paraguay Meat Products Promotion and Investment Opportunities Seminar on 8 May 2026 and formally signed a Memorandum of Understanding (MOU). The MOU was signed by Dr. Yi-Cheng Kao, President of TABF, and Rector Jorge Duarte of UPTP, in the presence of President Peña and Taiwan’s Minister of Foreign Affairs, Dr. Chia-Lung Lin.
Building on the two countries’ longstanding friendship and existing multifaceted partnership, this MOU marks the first extension of Taiwan-Paraguay collaboration into financial professional talent development. It not only demonstrates the concrete results of Taiwan’s financial education and training in connecting with international partners, but also lays the foundation for more systematic cooperation in talent development and industry-academia collaboration.
Since the establishment of diplomatic relations in 1957, Taiwan and Paraguay have maintained a stable and steadily developing partnership. Bilateral cooperation has covered a wide range of areas, including agricultural technology, infrastructure, public health, and educational capacity building. As an important platform for bilateral higher education and talent cooperation, UPTP also reflects Taiwan’s broader transition from traditional assistance towards a sustainable diplomacy model centered on talent development and capacity building. This latest cooperation further extends bilateral engagement into the financial sector. Through exchanges in institutional experience, professional practice, and training resources, the partnership is expected to further enhance the breadth and depth of Taiwan-Paraguay cooperation.
Dr. Kao stated that the cooperation will initially focus on two key areas: fintech and cybersecurity. As digital transformation continues to accelerate across the global financial sector, financial institutions are facing growing demand for professionals skilled in digital innovation, cybersecurity governance, and technology risk management. TABF will share Taiwan’s experience in financial innovation and development through digital learning and training resources, supporting Paraguay to cultivate digital talent and strengthen financial resilience.
Dr. Kao further noted that this agreement also carries strategic significance in linking Taiwan with Paraguay’s financial market and industrial ecosystem. With UPTP as a cooperation platform, TABF looks forward to gradually expanding exchanges with Paraguay’s banking sector and local financial institutions, deepening engagement with the local financial system. The partnership will help identify talent needs and development trends in Paraguay’s financial market. In the medium to long term, Taiwan will also share its experience in financial certification, risk management, fintech applications, and structured talent development, contributing to the continued advancement of Paraguay’s financial sector.
The MOU also reflects TABF’s continued efforts to promote internationalization of financial professionalism and expand its global cooperation network. As Taiwan’s leading financial training institution, TABF has long been dedicated to financial talent development, certification and assessment, research, and international exchange, continuing to strengthen its collaboration with overseas academic institutions and professional financial organizations.
Through this cooperation, TABF will further expand the international reach of Taiwan’s financial training system, and deepen substantive links with allies in financial talent and industry development. The partnership is expected to open a new chapter of long-term, in-depth and mutually beneficial cooperation between Taiwan and Paraguay.