Asunción, IP Agency.- The Minister of Industry and Commerce (MIC), Javier Giménez, highlighted the work carried out by State institutions in the adoption of technology to debureaucratize management and reduce costs in the field of imports and exports.
Giménez appeared at the celebration of the 85th anniversary of the Center of Importers of Paraguay (CIP). There he pointed out that these Government efforts are aimed at promoting trade and conquering strategic markets.
This modernization is obtained with the incorporation of technology added to the actions of the different relevant institutions to reduce rates and combat informality in the field of commerce.
“Creation of mechanisms for the development of logistics infrastructure, simplification of the procedure, lowering costs for exporters, fight against informality, smuggling. “Those are the pillars of what we were referring to when we talked about free and strengthened trade,” said Giménez.
Business opportunities
On the other hand, the head of the MIC highlighted the marketing opportunities in several key markets for national products. Giménez pointed out that the European Union is an important market where Paraguay should not be absent, especially in the export of soy, meat and wood. In this sense, he explained the situation of soybeans, whose main market is Argentina as a raw material and, through this, income is generated to other destinations, mainly the EU.
Likewise, he mentioned the potential of the Asian market, highlighting the importance of the countries of the Association of Southeast Asian Nations (ASEAN), which have more than 700 million consumers. However, he pointed out the relevance of the countries that make up the Southern Common Market (Mercosur), such as Brazil, which represents a great market opportunity that has not yet been fully exploited.
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Analysis: Paraguay’s Efforts to Streamline Imports and Exports
As we navigate the complex world of international trade, it’s becoming increasingly important for countries to adopt efficient and cost-effective measures to manage their imports and exports. Recently, the Minister of Industry and Commerce (MIC) in Paraguay, Javier Giménez, highlighted the progress made by State institutions in leveraging technology to simplify management and reduce costs in this area.
According to Giménez, the use of technology has been instrumental in debureaucratizing the management of imports and exports in Paraguay. This is a significant step forward, especially considering the country’s economic reliance on international trade. In 2022, Paraguay’s raw materials exports were worth US$ 4,833 million, accounting for 48.59% of the country’s total exports [[1]].
Paraguay’s trade profile is diverse, with key exports including meat products, wheat, corn (maize), and hydroelectricity [[3]]. The country’s main trading partners are Brazil, Russia, and other nations in the region. However, to remain competitive, it’s essential for Paraguay to maintain an efficient trade management system.
Giménez’s comments come at a time when Paraguay’s trade balance is in deficit, with total imports exceeding total exports in 2022 [[2]]. While this may be a cause for concern, the adoption of technology to streamline management and reduce costs could help alleviate some of the pressure.
By embracing technology, Paraguay can reduce bureaucratic hurdles and make it easier for businesses to engage in international trade. This, in turn, can lead to increased economic growth, job creation, and improved competitiveness.
As the global trade landscape continues to evolve, it’s essential for countries like Paraguay to stay ahead of the curve. By investing in technology and streamlining management processes, Paraguay can position itself as a key player in the region and attract more foreign investment.
the Minister of Industry and Commerce’s emphasis on technology adoption is a positive step towards improving Paraguay’s trade management. By building on this momentum, the country can unlock new opportunities for economic growth and development.
References:
[1] WITS (2022) Paraguay Trade Summary 2022 | WITS | Text Exports and Imports of Product Groups 2022
[2] WITS (2022) Paraguay Trade Statistics | WITS
[3] Britannica (n.d.) Paraguay – Trade, Agriculture, Manufacturing
