Paraguay is taking steps to strengthen its presence in Central American markets through a potential partnership with Panama’s Colón Free Zone (Zolicol), the largest free trade zone in the Western Hemisphere. This strategic initiative aims to establish a distribution hub for Paraguayan meat, pharmaceuticals, soybeans, and oils in the region.
As part of a broader diplomatic and commercial mission, Paraguayan Vice Minister of Industry Marco Riquelme visited Zolicol’s facilities to explore collaboration opportunities. The delegation, led by President Santiago Peña and Minister of Industry and Commerce Javier Giménez, seeks to position Paraguay as an attractive business destination in South America.
During meetings with Zolicol’s management team, headed by Luisa Napolitano, discussions focused on knowledge transfer agreements and the development of industrial parks and free zones in Paraguay. This exchange could help Paraguay modernize its trade infrastructure using Panama’s successful model as a reference.
The strategic location of the Colón Free Zone offers Paraguay potential access to key markets in Costa Rica, Honduras, Peru, and Ecuador. This partnership could significantly reduce logistical costs and streamline trade operations for Paraguayan exports throughout Central America and the Caribbean region.
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The landlocked South American nation sees this initiative as an opportunity to overcome geographical limitations and expand its export reach. Paraguay, known for its significant agricultural production and growing pharmaceutical industry, aims to leverage Zolicol’s established infrastructure and connections to diversify its international market presence.
This potential collaboration represents a significant step in strengthening economic ties between South and Central America. Paraguay’s government views this initiative as crucial for attracting foreign investment and establishing the country as a key supplier of agro-industrial and pharmaceutical products in the Americas.
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