Paraguay

Paraguay has a very open trade and investment regime. Applied MFN tariffs are relatively low (8.5 per cent on average) and there is little recourse to non-tariff measures. The aim of Paraguay’s medium-term trade strategy is to boost the role of international trade as an engine for economic growth and to diversify its export base which remains focused on a few agricultural products and on a small number of markets. Paraguay is also seeking to enhance the business climate so as to attract larger flows of foreign investment and thus foster economic growth and employment.

During the period covered by this fourth review of Paraguay’s trade policy the global economy has grown steadily with significant effects on international trade. The main features of world economic developments were major volatility on financial markets uncertainty over international commodity prices and the resurgence of protectionist measures.