Apart from trade, love for football can create bridges of friendship between Kolkata and Paraguay, Fleming Duarte, Ambassador of Paraguay in India, said here today.
Talking about cultural and people-to-people exchanges, Duarte, while interacting with the members of the Merchants' Chamber of Commerce and Industry (MCCI), said he is aware that Kolkata loves football and has been a passionate fan of Latin American football.
"Love for football can create bridges of friendship between Kolkata and Paraguay," Duarte said.
Calling upon Indian business community for investment in Paraguay, Duarte said that the Latin American country is a preferred destination for investors due to its political stability, kind people and strategic geographic location.
The sparsely populated country of about 400,000 square km is the agriculture platform of the world, he said.
"Paraguay has the potential to triple its agricultural production. In addition, Paraguay has abundant natural resources," he said.
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"Paraguay possesses a good business climate. The country has enjoyed 5.1 per cent average annual growth rate in GDP over the last 11 years. Paraguay offers among the highest returns, at 22 per cent., in Foreign Direct Investment among Latin American countries," Duarte said.
Besides a low tax rate, Paraguay offers other advantages in productivity and a cost structure that is 30 per cent less than its neighbours, he said, welcoming investors.