Paraguay Paraguay-India - Page 21

SPECIAL REPORT say it all. Paraguay has reached a relevant position in the global market place, being the largest exporter of renewable energy, 4th largest exporter of soya bean, the 6th of corn and 7th of beef worldwide. Paraguay enjoys a competitive advantage over its neighbours with its costs of production and cargo storage. The country has made itself attractive to manufacturers by reducing red tape and taxes and enabling fi rms to produce more cheaply and make a bigger profi t. As a result, it is not uncommon for such fi rms to even abandon their country of origin and settle operations to Paraguay, like Hipasa SA, the Brazilian producer of diapers, which now has a plant near Asuncion, the capital city of Paraguay. More than 100 new industries have been settled under the Maquila Regime, to name a few are Yasaki, Sumidenso, THN, Leoni, are top 10 world class industries that export to the USA, Europe and Mercosur. These investments have ratified Paraguay as a platform and an export production gateway to the world. The Mission is active in promoting the country’s attractive business & investment opportunities through various channels, however focusing on increasing interaction between business representatives from both the countries, to elevate the opportunities. Q Q Are Ar there any major events to be held in nearby future in Paraguay a that will off er a great platform and will prove fruitful fru for the Indian investors? Between 6-21st of July, the International Fair of Livestock, Industry, Agriculture, Trade and Services will take place in the city of Mariano Roque Alonso, which is the largest exhibition in Paraguay attracting more than 1,500 exhibitors and 600,000 visitors every year. As a part of the fair, the International Business Wheel Expo takes place, which brings together international representatives and entrepreneurs from Paraguay. In 2018, 1,820 meetings were held between national and foreign businessmen from 549 participating companies, and business expectations of around $157 million were created. The Expo, that will take place for the 23rd time proves to be a successful platform for foreign companies, which are interested in selling products, supplies, equipment and services for the Paraguayan market. Parag is one of the Paraguay world’s leading food producers and exporters, as well as the world’s biggest renewable energy supplier. With the most competitive tax regime in the region and a strategic location at the heart of the continent with easy access to both the Pacifi c and Atlantic c Oceans Co Could you briefl y share with us what on connects Paraguay and India? P Paraguay and India share common values such as representative democracy, the protection of human rights and the freedom of expression among others. As democracies, having a similar demographic profi le with youth forming more than 65% of their respective populations, India and Paraguay have similar aspirations as well as the need for imparting requisite skills to their youth. On a business level, the strength of both countries lies in agriculture. Both countries also receive lots of sun and are focused on benefi ting from solar energy. Paraguay appreciated the International Solar Alliance (ISA) initiative launched by India in 2015 and will be joining ISA soon. Q is looking forward to a stronger interaction with tourism authorities and the private sector to leverage the potential. On the tourism front, do you think Paraguay and India ou do more? Is Paraguay looking at doing some could pr promotional campaigns? Paraguay off ers immense tourism potential and natural beauty to create a great opportunity for the travel industry to promote it as a new tourist destination. There is an interest to position country as a destination for MICE; promotional activities in this area are on the way. However, the Mission Q How d do you see the future trajectory of rag Paraguay-India relationship? Par Paraguay is one of the world’s leading food producers and exporters, as well as the world’s biggest renewable energy supplier. With the most competitive tax regime in the region and a strategic location at the heart of the continent with easy access to both the Pacifi c and Atlantic Oceans, Paraguay can grow business of Indian companies. Seeing the enthusiasm of Paraguayan entrepreneurs and rising interest in Paraguay from Indian enterprises, our country can be used as a gateway to Latin-American and Caribbean regions. The partnership in various segments is only expected to rise. Q Wh lies ahead for India-LAC relations? What W With recent high state representation visits, like of Vice Presi President Naidu to Paraguay relations between India and Latin American Countries are strengthening. Certainly, the potential and sizeable markets attract investment. Paraguay, with a secure business climate and political situation is undoubtedly a noteworthy investment destination among Latin American Countries. It is my duty as an Ambassador to support the initiatives between India and Paraguay for solid joint ventures in the future and along with my colleagues at the Mission, I will spare no eff ort to ensure its success.  PARAGUAY 2019 • 21