Nicaragua and Panama Look to Improve Commercial Trade

Companies from both countries have begun a week of negotiations with the aim of increasing the level of business done between them.

Tuesday, August 17, 2010

The meetings will be held in the Panamanian capital and are promoted by the Nicaragua-Panama Trade Association and the Center for Nicaraguan Exports and Investment.

"The Free Trade Agreement (FTA) signed the countries was the last to be agreed and has not been updated. However, these kinds of meetings will help increase the exchange of goods and services between Panama and Nicaragua, which currently is relatively low," commented Roberto Henríquez, Panamanian Minister for Trade and Industry told Laprensa.com.ni.



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Nicaragua Resumes Meat Exports to Panama

August 2010

Authorities from both countries have managed to remove the obstacles to Nicaraguan meat entering Panamanian territory.

Nicaraguan cattle farmers argued that Panama's auction system discriminates against them and fails to reflect market conditions.

"We have been discussing ways to circumvent these procedures with Panamanian authorities since both countries are keen to widen trade between us," Orlando Solórzano, the Nicaraguan Minister for Development, Industry and Commerce, told La Prensa.

Nicaragua Foresees More Exports To Panama

January 2010

As the free trade agreement between both countries comes into effect, Nicaragua expects to increase exports in 15%.

Orlando Solórzano, Development Minister, highlighted the opportunities presented by this FTA for companies to export more to Panama.

Solórzano told newspaper Laprensa.com.ni: "Grains, vegetables, milk and derivates, cheese and instant coffee enjoy important export quotas.

FTA Panama - Nicaragua Comes Into Effect 23/11

November 2009

A Free Trade Agreement between Nicaragua and Panama will come into effect next Monday.

Under the agreement, 90% of the product universe will be exchanged with zero tariff between both countries.

"Quotas and gradual tariff reductions (up to ten years) have been put in place for the remaining 10%", reported Laprensa.com.ni.

FTA Panama - Nicaragua Valid From 11/23/2009

October 2009

The announcement was made by the Panamanian Government, after the ratification documents were interchanged by both states.

Now, Panama has ratified Free Trade Agreements with all Central American nations, as the last one pending was this one with Nicaragua.

The head of Panama's Commerce and Industry Minister stated in a press release: "this action consolidates a free trade platform with all the countries of Central America, identified by Panama as its main axis for regional commercial integration", reports newspaper Laprensa.com.ni.

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