Paraguay Paraguay-India - Page 9

SPECIAL REPORT What is the Maquila Regime? It is a system in which goods are produced and services are provided for the international market and the main objectives include industrial development, employment generation and increased exports. The production of products or provision of services is made by company legally established in Paraguayan territory, which is the Maquila Company, for and on behalf of a company domiciled abroad, which is the Head Offi ce according to the Maquila Contract. Directed by the Ministry of Industry and Trade, the National Council of the Export Maquila Industry (CNIME) is the offi cial promoter of the Maquila policies in Paraguay. There are four more State institutions: Ministry of Finance, Ministry of Foreign Aff airs, Central Bank of Paraguay and Technical Planning State Offi ce. Space Cooperation In March, at the bilateral meeting between Vice President M Venkaiah Naidu and his Paraguayan counterpart Vice President, Hugo Velázquez, India off ered that both Indian Space Research Organisation (ISRO) and the space agency of Paraguay could cooperate in: resource mapping; earth observation data sharing; manufacturing and launching satellites on commercial basis; establishing a ground station to receive, process and disseminate data from Indian Remote Sensing satellites for use in various remote sensing applications. Space agencies of both countries must collaborate on training related to manufacturing small satellite, and customised training on specifi c areas of space technology applications including natural resources assessment and disaster management support. Paraguay created its Space Agency in 2014 and, last January defi ned its space policy. In this initial stage, international cooperation initiatives are essential to promote capacity building and technology transfers. China has been off ering competitive satellite construction and launch services to various South American countries and countries like Venezuela and Bolivia have launched their fi rst satellites with Chinese cooperation. However, Paraguay does not maintain offi cial relations with China; this is an opportunity for India to become a strategic partner to boost its space program at low cost. Both countries have decided to seek new areas for cooperation including Hydel and solar power, health including traditional medicine, and pharmaceuticals, Information and Communication Technology which would open more opportunities for the youth in that country. For its food security, contractual farming in Paraguay is one of the options that India can explore. India has off ered agricultural machinery that can help the farmers as well as new technologies that can help improve the food chain there. As a South American country, its Agriculture based economy mainly focuses on agribusiness and cattle ranching and is the 4th largest exporter of soya beans in the world. Besides seeking cooperation in developing small electric plants for clean energy, it is seeking cooperation from Indian companies to participate in several infrastructure projects includ- ing airports, railways, roads and transportation as that will help in not only establishing good connectivity but also improving trade and movement of goods to various countries in the region. While Paraguay’s global export is recorded at $9.04 billion by the end of 2018, exports to India were recorded at $166.90 Million in 2017 - 2018. The bilateral Trade graph shows the import and export between India and Paraguay from 2013 to 2018. India has recorded $168.43 Million export value product to Paraguay in 2017 - 2018. BILATERAL TRADE (INDIA - PARAGUAY) Both countries have decided to seek new areas for cooperation including Hydel and solar power, health including traditional medicine, and pharmaceuticals, Information and Communication Technology which would open more opportunities for the youth in that country. Source: Atlassons Business Services Private Limited PARAGUAY 2019 • 9