Asuncion, IP Agency.- Paraguay is preparing to strengthen its trade relations with the United Kingdom, with the potential to reach an export volume of up to US$ 900 million annually in key products such as soy derivatives, meat, rice and others.
This ambitious forecast was revealed in the report “UK-Paraguay Opportunities”, launched this month by the Export and Investment Network (Rediex), during an event organized jointly with the Paraguayan-British Chamber of Commerce.
According to data published in a Infonegocios newstrade between the two countries reflects an unequal exchange. Paraguay exports products to the United Kingdom worth US$ 51 million annually, while it imports US$ 141 million, leaving a favorable trade balance for the European country.
In the period between 2021 and 2023, the main products exported by Paraguay were soybean cakes, which represented 76.8% of the total, followed by charcoal (8.2%), veneered wood (4%), rice (3.4%) and other products such as sesame, chia and frozen beef.
On the other hand, Paraguay mainly imports alcoholic beverages from the United Kingdom (40% of imports), as well as cars, telephones, serums and vaccines, among other products.
The director of the Paraguayan-British Chamber of Commerce, Federico Silva, highlighted the growth potential of Paraguayan exports to the United Kingdom, pointing out that products such as fresh or chilled beef, rice and soybean oil have great opportunities to reach new export records.
Silva also stressed that there are expectations that the export of products such as charcoal, frozen meat, sesame, chia and veneered wood will continue to increase, driven by the strengthening of bilateral relations.
In terms of investments, the United Kingdom ranks as the ninth largest investor in Paraguay, with a total of US$257 million invested until 2022 in key sectors such as trade, finance, agriculture and transport. Silva highlighted the reopening of the British Embassy in Paraguay as a key point to revitalize the commercial relationship between both countries, opening the door to greater investment opportunities.
A prominent example is the project of Atome PLC, which plans to invest approximately US$ 500 million in the construction of a green fertilizer plant in Villeta, with a nominal capacity of 145 MW.
“Paraguay is a land of opportunity that has much to offer. Important factors such as its macroeconomic stability, its geographical location, tax incentives and others can facilitate the establishment of UK companies with the intention of investing in Paraguay,” concluded Silva.
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2024-09-15 06:09:51
– What are the main products Paraguay plans to export to the UK in the coming years?
Table of Contents
Paraguay Strengthens Trade Ties with the UK, Eyes $900 Million in Exports
Asunción, IP Agency – Paraguay is gearing up to bolster its trade relations with the United Kingdom, with potential exports reaching a staggering $900 million annually in key products such as soy derivatives, meat, rice, and others. This ambitious forecast was revealed in the report “UK-Paraguay Opportunities,” launched this month by the Export and Investment Network (Rediex), in partnership with the Paraguayan-British Chamber of Commerce.
Current Trade Dynamics
According to data published in Infonegocios, the trade between the two countries reflects an unequal exchange. Paraguay exports products to the UK worth $51 million annually, while it imports $141 million, leaving a favorable trade balance for the European country. This imbalance presents a significant opportunity for Paraguay to increase its exports and narrow the trade gap.
Top Export Products
In the period between 2021 and 2023, the main products exported by Paraguay to the UK were:
- Soybean cakes (76.8% of total exports)
- Charcoal (8.2%)
- Veneered wood (4%)
- Rice (3.4%)
- Other products such as sesame, chia, and frozen beef
Import Profile
On the other hand, Paraguay mainly imports the following products from the UK:
- Alcoholic beverages (40% of imports)
- Cars
- Telephones
- Serums and vaccines
- Other products
Growth Potential
The director of the Paraguayan-British Chamber of Commerce, Federico Silva, highlighted the growth potential of Paraguayan exports to the UK, pointing out that products such as fresh or chilled beef, rice, and soybean oil have great opportunities to reach new export records. Silva also stressed that there are expectations that the export of products such as charcoal, frozen meat, sesame, chia, and veneered wood will continue to increase, driven by the strengthening of bilateral relations.
Investment Opportunities
In terms of investments, the UK ranks as the ninth largest investor in Paraguay, with a total of $257 million invested until 2022 in key sectors such as trade, finance, agriculture, and transport. Silva highlighted the reopening of the British Embassy in Paraguay as a key point to revitalize the commercial relationship between both countries, opening the door to greater investment opportunities.
Conclusion
As Paraguay looks to strengthen its trade ties with the UK, the potential for growth is substantial. By capitalizing on the opportunities presented in the report “UK-Paraguay Opportunities,” Paraguay can increase its exports, narrow the trade gap, and attract greater investment from the UK. With the reopening of the British Embassy and a renewed focus on bilateral relations, the future of Paraguayan-UK trade looks promising.
Keywords: Paraguay, UK, trade relations, exports, imports, soy derivatives, meat, rice, investment opportunities, bilateral relations.
Meta Description: Paraguay is set to bolster its trade relations with the UK, with potential exports reaching $900 million annually. Discover the opportunities and growth potential for Paraguayan products in the UK market.
Header Tags:
H1: Paraguay Strengthens Trade Ties with the UK, Eyes $900 Million in Exports
H2: Current Trade Dynamics
H2: Top Export Products
H2: Import Profile
H2: Growth Potential
H2: Investment Opportunities
* H2: Conclusion
– What are the main products Paraguay exports to the UK?
Here is a comprehensive and SEO-optimized article on the topic of Paraguay’s trade relations with the United Kingdom:
Title: Paraguay Seeks to Boost Trade Relations with the UK, Aiming for $900 Million in Annual Exports
Meta Description: Discover how Paraguay is strengthening its trade relations with the United Kingdom, with potential exports reaching $900 million annually in key products like soy derivatives, meat, and rice.
Keywords: Paraguay, UK, trade relations, exports, soy derivatives, meat, rice, investment opportunities, bilateral relations.
Content:
Paraguay is gearing up to strengthen its trade relations with the United Kingdom, with the potential to reach an export volume of up to $900 million annually in key products such as soy derivatives, meat, rice, and others. This ambitious forecast was revealed in the report “UK-Paraguay Opportunities,” launched by the Export and Investment Network (Rediex) and the Paraguayan-British Chamber of Commerce.
Currently, trade between the two countries reflects an unequal exchange. Paraguay exports products to the UK worth $51 million annually, while it imports $141 million, leaving a favorable trade balance for the European country. However, officials are optimistic about the growth potential of Paraguayan exports to the UK, particularly in products like fresh or chilled beef, rice, and soybean oil.
Key Products and Imports
In the period between 2021 and 2023, Paraguay’s main exports to the UK were soybean cakes, which represented 76.8% of the total, followed by charcoal, veneered wood, rice, and other products such as sesame, chia, and frozen beef. On the other hand, Paraguay mainly imports alcoholic beverages from the UK, as well as cars, telephones, serums, and vaccines, among other products.
Investment Opportunities
The UK ranks as the ninth largest investor in Paraguay, with a total of $257 million invested until 2022 in key sectors such as trade, finance, agriculture, and transport. The reopening of the British Embassy in Paraguay is expected to revitalize the commercial relationship between both countries, opening the door to greater investment opportunities. A prominent example is the project of Atome PLC, which plans to invest approximately $500 million in the construction of a green fertilizer plant in Villeta.
Strengthening Bilateral Relations
Federico Silva, director of the Paraguayan-British Chamber of Commerce, highlighted the growth potential of Paraguayan exports to the UK, pointing out that products such as charcoal, frozen meat, sesame, chia, and veneered wood have great opportunities to reach new export records. Silva also stressed that there are expectations that the export of these products will continue to increase, driven by the strengthening of bilateral relations.
Conclusion
Paraguay’s effort to boost its trade relations with the UK presents a significant opportunity for the country to diversify its exports and attract more foreign investment. With a focus on key products and investment opportunities, Paraguay can strengthen its economic ties with the UK and capitalize on the growing demand for its products.
Image Optimization:
Image file name: paraguay-uk-trade-relations.jpg
Alt text: Reference image, courtesy of the Ministry of Industry and Commerce (MIC).
* Image description: A photo of a cargo ship, symbolizing Paraguay’s exports to the UK.
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