Leading Chile consortium strengthens trade relations with Paraguayan magnate

RIO DE JANEIRO, BRAZIL – In 2019 Luksic focused on Paraguay, where it agreed on the acquisition of 50% of Gasur SRL’s shares, in a strategic alliance with the Cartes Group headed by Paraguay’s former president (2013-2018) Horacio Cartes.

The investment at the time reached US$6 million, Gasur was renamed Enex Paraguay, currently one of the largest companies in the fuel business locally. This type of commercial relations between two companies of great regional importance enables to strengthen ties of great economic significance between Paraguay and Chile.

Chile-Paraguay Chamber of Commerce director Carlos Medina pointed out that this type of commercial exchanges is of great importance. He said that the Luksic group intends to continue investing in Paraguay and that the chamber is working to improve trade routes between the two countries.

“The group is very interested in continuing to purchase Paraguayan products and at the same time to continue investing. A new visit to the country is scheduled for January in order to find potential markets for further expansion,” Medina said.

PARAGUAY AS AN INVESTMENT DESTINATION

He emphasized that the Paraguayan market is highly regarded by Chileans and that the commercial relationship between the Cartes and Luksic groups is very solid. In addition, he said that Luksic intends for Enex to achieve greater growth, seeking to expand the brand throughout the country, with the creation of more service stations which will translate into more jobs.

He emphasized that the company’s entry into Paraguay and its alliance with large commercial groups open a large window of opportunity for investments of Chilean capital by other companies.

“As a chamber we see this type of commercial exchanges very favorably. Relations between Paraguay and Chile have been growing closer in recent times. We hope that with the gradual normality that can be achieved after the pandemic, by 2022 the commercial market between the two countries will be even stronger,” he stressed.

He also said that as a chamber, along with both embassies, efforts are being made to raise awareness among Chilean entrepreneurs of the several advantages of investing in Paraguay. The tax benefits, the demographic advantage and the economic strength are factors that make Paraguay a great destination for foreign investment.

Finally, he stressed the efforts being made by the two countries’ embassies. Paraguayan Ambassador Antonio Rivas, along with Chilean Ambassador Jorge Ulloa, have been major promoters of Chilean investments in Paraguay, highlighting the advantages and opportunities for Chilean companies and capital to settle in Paraguayan territory.