Turkish entrepreneur Mehmet Ozturk, known for his active role in international business development, emphasised Türkiye’s growing interest in strengthening its trade relations with Paraguay during an appearance on Tribuna on Paraguay TV. Ozturk, a member of the Foreign Economic Relations Board (DEIK), shared his vision of Paraguay’s many opportunities for Turkish investors and the region. This is his second visit to Paraguay in 2024.
In the interview, Ozturk highlighted Paraguay’s strategic position as a logistical and production hub. This hub could become a key center for Turkish investors, especially those seeking access to South American markets through Mercosur. According to Ozturk, Paraguay is an ideal gateway to seize the opportunities provided by the regional bloc.
Mehmet Ozturk: Paraguay has opportunities in agriculture, energy, and textiles
“We see key opportunities in Paraguay in agriculture, energy, and textiles. The land is fertile and has great potential for agricultural production. At the same time, the country also offers advantages for developing the textile industry. As for energy, we know that Paraguay is one of the world’s leading producers of sustainable clean energy, which opens up significant possibilities for collaboration,” Ozturk explained.
He also noted that, in partnership with his associates, they are currently conducting a feasibility study to create a transportation hub in Paraguay, which would benefit the nation and have a greater impact across the Southern Cone. “We are in talks to create a transportation infrastructure that connects Paraguay to major South American markets, something that will undoubtedly strengthen commercial relations between Türkiye and Paraguay,” he added.
Mehmet Ozturk also emphasized the factors making Paraguay an attractive foreign investment destination. “I have mentioned that crime levels in Paraguay are significantly lower than those in other Latin American countries, providing a secure and stable environment for business. Additionally, I have highlighted Paraguay’s competitive tax system, with lower rates than those in many other nations in the region, offering investors an added advantage.”
Another significant factor was Paraguay’s attractiveness in terms of incentives for foreign investments. The country offers favorable programs for investors seeking to develop long-term projects, particularly in strategic sectors such as agriculture, energy, and infrastructure.
PARAQUALITY and the potential of soft power
Mehmet Ozturk focused primarily on the PARAQUALITY project, modeled after Türkiye’s TURKQUALITY program, which aims to strengthen the brand of Paraguayan products internationally. “I believe Paraguay can benefit greatly from this type of initiative. Through a quality program for Paraguayan brands, local products’ competitiveness can be increased, boosting the economy and attracting more investments,” he explained. Ozturk emphasized that the use of “soft power,” including economic and cultural diplomacy, will be essential to improving Paraguay’s image and positioning in international markets.
On November 27, a DEIK delegation, Türkiye’s leading institution for foreign and economic relations, will visit Paraguay to deepen commercial opportunities and explore new areas of cooperation. “My colleagues from DEIK will be here in November to discuss in greater detail Paraguay’s potential and how we can work together to strengthen the commercial relationship between our countries further,” Mehmet Ozturk announced.
With its economic stability, geographical advantages, and young and well-educated population, Paraguay is emerging as a promising destination for Turkish investments. Türkiye’s interest, reflected by its entrepreneurs, demonstrates a long-term vision to strengthen trade ties between the two countries, creating growth and development opportunities across key industries.
Collaboration in logistical infrastructure and exploring strategic sectors like energy, agriculture, and textiles could consolidate Paraguay as a key business hub in South America.
Paraguay – Türkiye flights
What would also be really helpful for Paraguay, would be a flight to Türkiye on Turkish Airlines. Paraguay has significantly less air connectivity than most of its neighbours, with many Paraguayan citizens and residents flying from Brazil when looking to connect to Europe, Africa, Asia, and beyond.
The lack of – and price of – feeder flights for those travelling on regional carriers to link up with the major long-haul airlines flying out of Sao Paulo means that the data airlines receive on origin and destinations is somewhat skewed, as many of the short-haul flights to Sao Paulo are booked as separate tickets, hiding the true destination of the travelers.
With only one direct flight to Europe from Asunción, to Madrid with Air Europa, and with Madrid having limited connections to Asia, there is huge potential for airlines such as Turkish, and those in the Lufthansa Group, to attract market share with regular service to Latin America’s highest-growth economy.
