Sat, Oct 15, 2005 - Page 11 News List

Taiwan-Paraguay business meeting opens in Taipei


The seventh joint meeting between the Taiwan and Paraguay business councils opened yesterday in Taipei.

The meeting was held by the Taipei-based Chinese International Economic Cooperation Association (CIECA) and Paraguay's Confederation of Production, Industry and Commerce.

The theme of this year's meeting is to examine how Taiwan businesses can make use of Paraguay's industrial advantages to expand their business opportunities in the Americas and to make Paraguay a springboard for Taiwan businesses to advance into the vast South American market.

CIECA officials pointed out that there are 34 countries in North, Central and South America with a combined population of approximately 500 million, and that the Americas are expected to become the world's largest economy under a new free trade agreement framework.

It will facilitate express marketing of Taiwan products to the rest of the world if Taiwan businesses can make early access into Paraguay -- the only South American nation to maintain diplomatic relations with Taiwan, the officials said.

Noting that the economic structures of Taiwan and Paraguay complement each other very well, they said Paraguay's low production costs and advantages in the Southern Common Market are a perfect combination with Taiwan's experience, capital and technology.

According to official statistics, bilateral trade between Taiwan and Paraguay amounted to US$35.62 million between January and July this year, up 34.99 percent compared with the same period of last year.

While exports to Paraguay rose 52.17 percent to US$32.43 million, imports from Paraguay declined 37.21 percent to US$3.18 million.

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