U.S., Paraguayan soybean groups enter trade MOU
The American Soybean Association and the United Soybean Board entered a memorandum of understanding with representatives of the Paraguayan Chamber of Cereal & Oilseeds Exporters and the Paraguayan Soybean, Oilseeds and Cereals Producers Association to work together to promote mutual trade interests.
“The goal of this cooperative agreement is to advance the interests of all soybean producers, processors and end users through product and market development support,” said Bob Metz, first vice president of the American Soybean Association, in a statement Thursday.
At a meeting in Asuncion, Paraguay, the organizations agreed to cooperate on resolution of trade barriers and restrictions “when and where the interests of the organizations are amenable to joint efforts.”
For example, areas of common interest include issues such as unfair traceability and labeling rules for food and commodities derived through biotechnology, or trade restrictions that may result from the application of new crop protection products used on soybeans, the two U.S. groups said.