Asunción, Agencia IP.- Paraguayan companies made a significant impact at the Taipei International Food Show 2024, securing potential deals worth USD 7.31 million. Firms from Taiwan, Vietnam, Malaysia, Hong Kong, South Korea, India, and other countries showed remarkable interest in Paraguayan products during the four-day fair, resulting in over 160 promising business contacts.

The Paraguayan companies showcased their products, attended to visitors at their stands, and participated in specialized B2B business meetings, facilitating direct and fruitful exchanges with potential business partners.

The successful participation of Paraguayan companies was made possible through the concerted efforts of the Ministry of Industry and Commerce (MIC) via the Investment and Export Network (REDIEX), the Embassy of Taiwan in Paraguay, and the Taiwan External Trade Development Council (TAITRA).

At the end of the fair, participating companies had the option to join a two-day trade mission, which included visits to factories and companies in northern and southern Taiwan. This additional experience allowed Paraguayan entrepreneurs to witness firsthand Taiwan’s operations and industrial processes, further strengthening commercial relationships.

The Taiwanese market represents a high potential for access to Paraguayan products, especially organic products. This is due to a Mutual Recognition Agreement of Organic Systems between the Republic of China (Taiwan) and the Republic of Paraguay.

The Economic Cooperation Agreement between the two countries also offers tariff preferences and zero tariffs for several Paraguayan products, including juices, grains, and proteins. Under this agreement, Paraguayan products face no obstacles regarding quality standards, qualifications, or tariff barriers, creating a transparent and prepared playing field to seize commercial opportunities.

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