This statement is True. A polygon that has two pairs of parallel sides meets the definition of a parallelogram.
To elaborate, a parallelogram is a specific type of quadrilateral characterized by having both pairs of opposite sides that are equal in length and parallel. The property of having two pairs of opposite sides that are parallel is sufficient to conclude that the figure is a parallelogram, regardless of the lengths of the sides or the measures of the angles.
Therefore, if you encounter a polygon that displays this characteristic, you can confidently classify it as a parallelogram.