Business with Paraguay |
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Business news update |
Trade Promotion Activities Organized by the Embassy of India in 2009
Trade Promotion Activities Planned for 2010
Ciudad del Este (centre of frontier trade with Brazil & Argentina)
Encarnación
Spanish, official language
The native language "Guaraní" is spoken by the entire population
International Country Code - 595
Presidential System of government . Current President Fernando Lugo since August 2008.
Cataratas de Iguazú: Water falls in the border with Brazil and Argentina www.senatur.gov.py
USD 15 billion (2009)
2009 (estimated) |
2008 |
2007 |
2006 |
2005 |
2004 |
-3.5% |
5.4% |
6.8% |
4.3% |
2.9% |
4.1% |
| 2009 (estimated) | 2008 |
2007 |
2006 |
2005 |
2004 |
| 1% | 10.8% |
8.1% |
12.5% |
9.9% |
2.8% |
Exchange rate:
1 US $ TO Guarani
| 2009 | 2008 |
2007 |
2006 |
2005 |
2004 |
| 4735 | 4300 |
5031 |
5,672.8 |
6,178 |
5,974.6 |
US $ 2.2 Billion (Sept 2009)
Agriculture, Hydropower, Timber, Iron Ore, Manganese, Limestone
| 2009 (Jan-Oct) | 2008 | 2007 | 2006 | 2005 | 2004 | |
| Exports (In bn US$) | 2.8 | 4.4 | 2.8 | 1.90 | 1.7 | 1.6 |
| Imports (In bn US$) | 5.5 | 8.5 | 5.6 | 4.5 | 3.3 | 2.7 |
Country |
Million US$ |
| China | 1580 |
| Brazil | 1270 |
| Argentina | 900 |
| Japan | 300 |
| Others | 1450 |
| Total | 5500 |
Country |
Million US$ |
| Brazil | 522 |
| Uruguay | 518 |
| Argentina | 315 |
| Chile | 294 |
| Others | 1113 |
| Total | 2762 |
Paraguay’s economy is based on agriculture, agribusiness and cattle ranching. Paraguay is ranked as the world’s fourth largest exporter of soybeans, and its beef exports are substantial for a country of its size. Paraguay occupies 6th place in the world ranking with a 6.8-million ton production and its sown area for the 2007-8 campaign amounts to 2.42 million hectares equivalent to 25 per cent of all cultivated land. Other agro products are – corn, sunflower, cotton, wheat, tobacco and sugarcane.
The country has vast tracts of arable land which could be used for agriculture. After seeing the increase in global demand and prices for food items, Paraguayan farmers and foreign companies are investing in land and increasing production in recent years. Soya production doubled from 3.6 million tons in 2006 to 6.8 million tons in 2008. Investment in the next five years is projected to be 3 to 5 billion dollars and production is expected to go up to 15 to 18 million tons in the next five years.
Remittance of overseas Paraguayans (mainly from Argentina, Spain and USA) is an important source of foreign exchange.
Paraguay, which is landlocked, has been granted free ports in Argentina, Uruguay and Brazil.
Small ships and tugboats carry cargo to Asuncion, the capital from the Argentine ports of Rosario and Buenos Aires.
Ciudad del Este, the town on the border with Brazil and Argentina is a kind of free trade zone. Electronics and branded items are imported and these are sold to Brazilian and Argentine traders and tourists. Merchants of Chinese, Indian (there are about 100 of them) and Arab origin dominate in trading. However, Brazil has started imposing restrictions on this informal trade.
The new government of President Lugo which came to power in August 2008 (after defeating the Conservative Colorado Party which had ruled for 61 years continuously) has given priority to Inclusive Development. The government is pursuing pragmatic policies and is committed to economic stability and growth.
The European Union has included Paraguay in a list of new countries to benefit from its “GSP Plus” starting from January 2009. This will give tariff exemption to 6400 Paraguayan products.
The GDP is expected to grow by 4% in 2010. Agricultural production, imports and exports are projected to increase in 2010.
Itaipu is a hydroelectric dam on the Paraná River located on the border between Brazil and Paraguay. It has the second largest hydroelectric power plant in the world with 14GW (20 generating units of 700 MW each). It is a bi-national undertaking run by Brazil and Paraguay. Most of the electricity is consumed by Brazil and their payment is a considerable source of income to Paraguay.
Top 10 banks
BANCO AMAMBAY S.A.
http://bancoamambay.com.py
BANCO BILBAO VIZCAYA ARGENTARIA PARAGUAY S.A.
http://www.bbva.com.py/
BANCO NACIONAL DE FOMENTO
http://www.bnf.gov.py/
Banco Regional
http://www.bancoregional.com.py/
BANCO SUDAMERIS PARAGUAY S.A.
http://www.sudameris.com.py/
CITIBANK
http://www.citibank.com/paraguay/
INTERBANCO S.A.
http://www.interbanco.com.py/
HSBC
http://www.hsbc.com.py
ABN AMRO
Bilateral Trade figures for 2010 (January to June)
(in million dollars)
Paraguay |
||
Jan-June 2010 |
Jan-June 2009 |
|
| India´s Exports | 30.7 |
25.0 |
| India´s Imports | 21.1 |
20.1 |
(USD in million)
Year |
2009 | 2008 | 2007 | 2006 |
2005 |
India’s exports |
50.6 | 59 | 46 | 24.30 |
20.90 |
India’s imports |
56.3 | 38 | 23 | 3.11 |
4.26 |
| Soya oil | 53 | |
| Sunflower oil | 2 | |
| Wood | 0.2 | |
| Essential Oil | 0.1 | |
| Leather | 0.1 |
India imported 65,000 tons of soya oil in 2009. Import of sunflower oil in 2009 was 3000 tons, decreasing from 10,000 tons in 2007.
| Insecticides | 7.7 |
| Tobacco | 5 |
| Pick ups | 2.1 |
| Tractors | 1.7 |
| 4x4 jeeps | 0.7 |
| Plastic products | 0.5 |
There is scope for investment and joint ventures in agribusiness, including farming.
Information on investment opportunities is in www.rediex.gov.py
Indian IT company Flatworld Solutions has opened a Centre in Asuncion in 2009.
Flatworld solutions has over 500 staff and has plans to expand. The company specialises in mobile software and operates call centres and BPOs.
Freight Rates from Mumbai/ Asunción:
20´ USD 5890
40´USD 6490
Business Visa can be obtained at the Paraguayan Embassy in New Delhi.
Embassy of Paraguay
Mr Genaro Vicente Pappalardo Ambassador (in-charge)
B-11 Vasant Marg,Vasant Vihar New Delhi – 110057.
Tel.No : (91 11) 4270 – 5671 / 4270 – 5676
gpemparaindia@airtelbroadband.in
Since there are no direct long distance flights to Europe, one has to go through Buenos Aires or Sao Paulo.
The international airport is “SilvioPettirossiInternationalAirport”
At the time of departure, an airport tax of USD 25 or its equivalent in the local currency has to be paid for international flights.
Prepaid taxi [REMIS] service available at the airport. It takes about 30 minutes to reach the city from the airport.
Currencies can be changed easily and international credit cards are widely accepted.
They can be taken from the street or Remises(private taxis) can be hired on phone.
Shopping del Sol www.delsol.com.py
Mariscal Lopez Shopping www.mariscallopez.com.py
Shopping Villa Morra www.villamorra.com.py
La Riojana www.lariojana.com.py
Paseo Carmelitas www.paseocarmelitas.com.pyFive Stars
Sheraton Asunción Hotel
Aviadores Del Chaco 2066, Asunción
Tel:(595) (21) 6177000
Fax: (595) (21) 6177001
Web: www.starwoodhotels.com/sheraton/asuncion
Hotel del Yacht y Golf Club (outside the city)
Tel:(595 21) 906121 / 906117
Fax: (595 21) 906120
Email: info@hotelyachtparaguay.com
Web: http://www.hotelyacht.com.py/
Crowne Plaza Asunción
Cerro Corá 939, Asunción
Tel: (595 21) 452682
Fax: (595 21) 448731
E-mail: reservas@crowneasuncion.com.py
Web: http://www.crowneasuncion.com.py
Four Stars
Hotel Las Margaritas
Estrella esq 15 de Agosto, Asunción
Tel: (595 21) 448765
Fax:(595 21) 448785
Web: http://www.lasmargaritas.com.py
Sabe Center Hotel
25 de Mayo esq. México
Tel: (595 21) 450093
Fax: (595 21) 450101
Web: http://www.sabecenterhotel.com.py
Three Stars
Manduará Hotel
México 554
TeleFax: (595 21) 490223/4, Asunción
Email: reservas@manduara.com.py
Web Site: www.manduara.com.py
January 6 Epiphany
March 1 Heroes Day
April 10 Good Friday & Easter
May 1 Labour Day
May 15 The Independence Day
June 12 Peace of the Chaco War
June 20 Constitution Day
August 15 Foundation of Asunción
September 29 Battle of Boquerón
October 12 Colombus Day
December 8 Virgin of Caacupé
December 25 Christmas
January 1 New Year’s Day
Local food specialties: Chipas (maize bread flavored with egg and cheese); Sopa paraguaya (soup of mashed corn, cheese, milk and onions); Soo-yosopy (a soup of cornmeal and ground beef); Palmitos (palm hearts); Surubí (a fish found in the Paraná river).
Local drinks: Caña (distilled from sugar cane and honey); Mosto (sugar cane juice); and terere (cold herbal tea).
Currently there are around 100 Indians residing mostly in Ciudad del Este in the border with Brazil and Argentina. They are in trading, retail and wholesale business.
Federación de la Producción la Industria y el Comercio – FEPRINCO
(Federation of Production, Industries, and Commerce)
Palma 751, Edificio Unión Club, Piso 3º, Asunción
Tel/Fax: (595 21) 446 638 / 444 963
E-Mail : feprinco@quanta.com.py
Unión Industrial Paraguaya – UIP
(Industrial Union)
Av. Stmo. Sacramento 945 c/Prof. Chávez, Asunción
Tel/Fax: (595 21) 606 988
E-Mail : uip@uip.org.py
presidencia@uip.org.py
Web: http://www.uip.org.py
Camara Nacional de Comercio y Servicios del Paraguay – CNCSP
(National Chamber of Commerce and Services)
Estrella 540, Asunción
Tel: (595 21) 493321
Fax: (595 21) 440817
Email: info@ccparaguay.com.py
http://www.ccparaguay.com.py
Cámara Paraguaya de Exportadores de Cereales y Oleaginosas “CAPECO”
(Paraguayan Chamber of Cerelas and Oil Exporters)
Avenida Brasilia Nº 840
Tel: (595 21) 208 855 – 205 749
Fax: (595 21) 213 971
Web: http://www.capeco.org.py
Asociación de Productores de Aceites Vegetales
(Edible Oil Producers Association)
Tte. Zarate 271 Esq/Bestard, Asunción
Tel: (595 21) 66 0447
Fax: (595 21) 60 7559
Centro de Importadores del Paraguay
(Importers Chamber)
Av. Brasilia N° 1.947 casi Av. Artigas, Asunción
Tel: (595 21) 299 800 – 280 600 – 281 223
Email: cip@cip.org.py, cenimpor@telesurf.com.py
Web: http://www.cip.org.py/
CONTACTS
Honorary Consul General of India in Paraguay
Mr Rodolfo Javier Zuccolillo
Mr Benito, Consul
Av Eusebio Ayale 3663 KM-4
Asuncion
jz@acisa.com.py
tel 00595-21-660111
fax 00595-21-660115
Embassy of Paraguay in New Delhi
B-11, Ground Floor, Vasant Marg,Vasant Vihar,
New Delhi-110057
Ambassador: Mr Genaro Vicente Pappalardo
gpappalardo@hotmail.com
Tel: 0091-11-4270 5671/6
Fax: 0091-11-42705672
This is a special trade promotion initiative of the commerce ministry of India implemented in collaboration with business, since 1997. Under this, there are a number of proactive measures, including financial support for Indian companies to explore the LAC market, for participation in trade fairs, market studies, BSMs etc. Financial support is also given for LAC importers to visit India. The support is provided through export promotion councils and trade and industry bodies only and not directly to individual companies
- For more http://commerce.nic.in/flac/flac.htm
Contact
- Anil Mukim JS, Commerce Ministry a.mukim@nic.in
- Suchismita Palai Director , Commerce Ministry s.palai@nic.in
Some useful spanish phrases.
Also, Spanish Dictionary online: http://www.spanishdict.com/
| Hello | Hola |
| Good morning | Buenos Dias |
| Good evening | Buenas Tardes |
| Good night | Buenas Noches |
| How are you? | ¿Cómo está? |
| Very well | Bien |
| Pleased to meet you | Mucho gusto / Encantado |
| What is your name? | ¿Cómo se llama? |
| My name is …… | Mi nombre es …… |
| Please | Por favor |
| Excuse me | Permiso |
| Thank you | Gracias |
| Thank you very much | Muchas gracias |
| Yes / No | Si / No |
| Goodbye | Adios / Chau |
| See you later | Hasta luego |
| I don´t understand | No entiendo |
| I like Argentina / Paraguay /Uruguay | Me gusta Argentina /Paraguay /Uruguay |
| Where is? | ¿Dónde está? |
| Address | Dirección |
| Can you help me? | ¿Me puedo ayudar? |
| I need a taxi | Necesito un taxi |
| I am in a hurry | Estoy apurado |
| Do not worry | No se preocupe |
| I want …. | Yo quiero |
| I agree | Estoy de acuerdo |
| No problem | No hay problema |
| We should negotiate | Debemos negociar |
| Letter of credit | Carta de crédito |
| Wire transfer | Transferencia |
| Sample | Muestra |
| Exchange | Cambio |
| Exchange rate | Tasa de cambio |
| Business card | Tarjeta |
| It is a pleasure doing business with your company | Es un placer hacer negocios con su empresa |
| Let us celebrate | Vamos a brindar |
| Cheers | Saludos |
| Welcome | Bienvenido |
| I am vegetarian | Soy vegetariano |
| Breakfast | El desayuno |
| Lunch | El almuerzo |
| Dinner | La cena |
| Meat | Carne |
| Chicken | Pollo |
| Fish | Pescado |
| Sugar | Azucar |
| Rice | Arroz |
| Today | Hoy |
| Tomorrow | Mañana |
| Night | Noche |
| Now | Ahora |
| Later | Después |
| Wait for me | Espera por me |
| Pick me up at … | Buscame a las … |
| Avenue | Avenida |
| Street | Calle |
| Entrance | Entrada |
| Exit | Salida |
| How much is the cost? | ¿Cuánto cuesta? |
| Expensive | Caro |
| Good | Bueno |
| Bad | Malo |
| Luggage | Equipaje |
| Room | Habitación |
| Bill | La cuenta |
| Cash | Efectivo |
| Credit card | Tarjeta de Credito |
| Coffee (with milk/sugar) (sugar free sweetner) | Café (con leche/azucar) (Edulcorante) |
| Tea (-do-) | Té (-do-) |
| Mineral water | Agua mineral sin gas |
| Aerated water | Agua con gas |
| Red wine | Vino tinto |
| White wine | Vino blanco |
| Salt | Sal |
| Vegetables | Verduras |
| Cheese | Queso |
| Egg | Huevo |