Rocha port to handle Paraguayan cargo

The joint involvement will help reduce its financial costs, which amount to $1bn.

The proposed port would handle Paraguayan soya, 36% of which currently moves through the ports of Montevideo and Nueva Palmira.

A bi-lateral working group has been put together to look into various economic aspects, which they say would allow the free movement of goods and services, as well as people, against a deregulated logistics background.

As perceived, Paraguay would have an area set aside within the port where it could handle dedicated cargo, thereby partially offsetting the overall financial cost.

The port, each side notes, would help both countries develop economic cooperation through easier customs procedures and faster turnaround times.