MEB Member Companies take part in the Sovereign's official visit to Paraguay

During H.S.H. Prince Albert II's official Visit to Paraguay, the Monaco Economic Board (MEB), led by Ludmilla Raconnat Le Goff, Delegate for Attractiveness to the Minister of State, organized an economic segment. This effort aimed to enhance economic connections between the Principality and Paraguay, discover new business opportunities, and promote bilateral cooperation between companies from both nations.

The mission received outstanding support from REDIEX (Red de Inversiones y Exportaciones), Invest in Paraguay, and the International Chamber of Commerce of Paraguay (ICC Paraguay), who served as key partners in local coordination and organizing institutional meetings.

The delegation included nine Monegasque entities from different sectors:

- Agri-food (specifically beef procurement) (Giraudi and Frimo)

- Cosmetics (Exsymol)

- Parapharmacy and Pharmaceuticals (Therascience)

- Trade and Logistics (GPS Monaco Group & Monaco Logistique)

- Legal Consulting (Gordon S. Blair)

- Family Office and Investments (Abts Analysis Services)

- Tourism and Travel (Jet Travel)

- The different speakers emphasized the attractiveness of the Paraguayan market, known for its economic stability, favourable tax policies, and potential for regional growth.

The Monegasque delegation took part in multiple distinguished economic sessions and was subsequently received by:

- The management of REDIEX and Invest in Paraguay, at the Presidential Residence;

- The Paraguayan Business Union;

- The International Chamber of Commerce of Paraguay (ICC Paraguay).

The Monaco-Paraguay Economic Forum took place on 4 November in the presence of the Sovereign and the President of Paraguay, H.E. Mr. Santiago Pena. It attracted institutional representatives and companies for cross-presentations.

The Delegate for Attractiveness emphasized the Principality's economic strengths, while the MEB described its functions and initiatives as a Chamber of Commerce. Paraguayan institutions showcased investment opportunities across infrastructure, agriculture, clean energy, and services, offering an overview of a swiftly growing economy that is highly regarded by all MERCOSUR nations.

Our companies participated in over fifty B2B meetings across three separate economic events, with support from REDIEX and ICC Paraguay. This enabled them to:

- Initiate first commercial contacts;

- Explore strategic partnerships;

- Gain better knowledge of the local framework (regulations, logistics, distribution).

This mission enhanced Monaco's presence in South America and established the groundwork for ongoing, sustainable collaboration between the two economies. 

Several companies have already shown interest in continuing the discussions and exploring specific investment or partnership opportunities.

Thanks to excellent collaboration with REDIEX, Invest in Paraguay, and ICC Paraguay, this mission represents a major advance in diversifying Monaco's international economic relationships.

The two chambers of commerce, the MEB and ICC Paraguay, will continue to nurture the potentially fruitful relationships formed during this exceptional day.

The next phase for the MEB begins on 22 November in Saudi Arabia, featuring at least 40 participating companies!