Asuncion: External Affairs Minister S Jaishankar on Monday held "productive" talks with his Paraguay counterpart Julio Cesar Arriola during which both leaders discussed new areas of cooperation and exchanged views on the state of the world.

"We had a very good exchange of views on the state of the world, our shared commitment to a rules-based order of a world that respects international law, that respects agreements, that will support multilateralism," he said during a joint press conference with Arriola.

Jaishankar is on his first-ever official visit to South America. He aimed at boosting overall bilateral ties with the region.

"My message when it comes to bilateral ties is certainly one of advanced political cooperation, stronger economic cooperation, a bigger development partnership, and more training and exchanges between our countries," he said in Asuncion.

Earlier, Jaishankar paid homage at the National Pantheon of Heroes in Asuncion on Monday and recognized the sacrifices of those who have served the country.

"Paid my homage at the National Pantheon of Heroes in Asuncion this morning. Recognized the sacrifices of those who have served this country," Jaishankar tweeted.

Meanwhile, the Foreign Minister was welcomed by Paraguay FM Julio Cesar Arriola in Asuncion.

"Warmly welcomed by FM Julio Cesar Arriola of Paraguay in Asuncion. The establishment of a resident Indian Embassy will take our ties to a higher level," Jaishankar tweeted.

Both the counterparts discussed expanding trade and investment, growing our development partnership, increasing our exchanges and training and strengthening the political cooperation between the countries.

Earlier, Jaishankar, who is on his first ever official visit to South America, unveiled a bust of Mahatma Gandhi in Paraguay on Sunday and appreciated the Asuncion Municipality's decision to locate it at the prominent waterfront of the city.

"Appreciate Asuncion Municipality's decision to locate it at the prominent waterfront of the city. This is a statement of solidarity that was so strongly expressed during the Covid pandemic," Jaishankar tweeted.

Moreover, the External Affairs Minister also visited the historic Casa de la Independencia from where Paraguay's Independence movement started more than two centuries ago.

In Paraguay, EAM will also inaugurate the premises of the newly opened Indian Embassy which started functioning in January.