Paraguay coach Gerardo Martino praise the progress that Colombia have made in recent years.

"Colombia have a very good group of players and they have also taken on a very good coaching staff. That makes me think things will go very well for Colombia," Martino told Reuters in an interview.

Radamel Falcao and Freddy Guarin shone in Porto's 5-1 rout of Villarreal in Thursday's first leg of their Europa League semi-final but there are more, very good young Colombian players in Europe and Latin America, he said.

Hong Kong company, AET (Asia) Limited is the new official sponsor of the Paraguayan national team soccer. The Asian company is currently working in the area of hydrocarbons and has a keen interest in investing in Paraguayan football.

The firm's objective is to organize sporting events, in principle with the senior team, as the friendship that developed on November 17 between the Albirroja and the selection of Hong Kong, and later with the youth teams and clubs in the First Division Paraguayan Football Association (APF).

Gerardo Martino has signed a new four year contract to stay with Paraguay after doing well in the recently concluded World Cup. Last week, the Argentine agreed terms to remain in charge of the team for another year, but he has now revealed he has reached a deal on a contract to 2014.

However, both sides will be able to review their position after the Copa America next year.

Paraguay's coach Gerardo Martino on Monday named his definitive 23-man squad for the upcoming World Cup in South Africa.

"It's always hard to draft the definitive list," Martino admitted at Paraguay's training camp in northern France. "It's always hard from a sports perspective and from ahuman perspective."

There were few surprises in the squad. Borussia Dortmund striker Lucas Barrios, Argentine-born like Martino, is set to play in South Africa, as is Libertad striker Rodolfo Gamarra.

Paraguay are set to face Italy, Slovakia and New Zealand in the group phase of the 2010 World Cup and highly rated midfielder Edgar Barreto has emphasised the importance of the South Americans' opening match against Italy.

"We’re starting out against a great side and it will be important to get a good result against the Italians. If we can do that, it will settle our nerves for the other games because there won’t be that same pressure on us to win," said Barreto to fifa.com.

Paraguay coach Gerardo Martino named a 20-man squad on Thursday for a friendly against World Cup hosts South Africa next week.

The match, Paraguay's last at home in Asuncion before the June 11-July 11 finals, will be played at the Defensores del Chaco stadium on March 31.

Paraguay, who are in Group F with holders Italy, New Zealand and Slovakia, will meet Ireland, Ivory Coast and Greece in further warm-ups in late May and early June.

Squad:

Goalkeepers: Victor Centurion (Tacuary), Joel Silva (Guarani)