The Agreement for the Promotion and Reciprocal Protection of Investments has been ratified, which promotes financial and trade relations and cooperation between the two countries.
From a press release issued by the National Assembly of Nicaragua
On August 14 the National Assembly unanimously approved the Agreement on the Promotion and Reciprocal Protection of Investments between the Government of the Republic of Nicaragua and the Government of the Russian Federation. This agreement seeks to promote financial and trade relations, and cooperation between the two countries.
The entry into force on 19 October of the FTA with Chile will expand opportunities for Nicaraguan products.
Over 97% of the supply of Nicaragua’s exportable products now enters the Chilean market duty free. According to the manager of the Export and Investment Center (CEI in Spanish), Roberto Brenes, in the next few years, exports may be duplicated.
Nicaraguan companies returned from the Sial food fair with orders for meat and liquor worth $8 million.
Elnuevodiario.com.ni reports that Roberto Brenes, general manager of the Center for Exports and Imports (CEI), reported that "Nicaragua achieved sales of meat and liquor worth $8 million at the Sial food fair, the most important in the world, which took place from 21 to 25 October in Paris, France. "
Costa Rican businessmen are exploring opportunities to strengthen trade relations, especially in the areas of metal-mechanics and chemical-pharmaceuticals.
Within Central America, Nicaragua is the leading destination for exports from Costa Rica, while, after El Salvador, Costa Rica is the second largest buyer of products and services for export Nicaraguan businesses , annually generating more than $500 million.
Small producers have started exporting taro, cassava, quiquisque and ginger to the Caribbean island, which buys from Nicaragua some $45 million worth of products per year.
"We made a projection of sales to Puerto Rico of 9.3 million dollars per year and demand will be at least three containers a week," said Nazario Mejia, president of the cooperative Tierra Buena, New Segovia (north), which has already made the first shipment.
Products such as cocoa, honey, coffee and fresh fruit will be exported by some 14 small and medium enterprises in Nicaragua with the assistance of a Dutch program that announced a second opening for new candidates.
This group of companies has benefited from the Export Coaching Programme funded by the Kingdom of the Netherlands.
Exports from January to July amounted to $1,443 million, an increase of 25.56% in value compared to the same period in 2010.
During the period, the items reporting the fastest growth were coffee beans (42%), raw gold (86%) and beef (37%).
"... Gold has fared very well, increasing by 86% in the foreign exchange generated and by 50% in volumes, meaning that the country is producing more gold metal, encouraged by rising international prices which have led a troy ounce to be worth more than $1,700, while in January it was less than $1.400.
The country could significantly increase production and start exporting within two years.
The signing of a cooperation agreement between the Export and Investment Center (CEI), the Research Institute of Organic Agriculture (FiBL) and the Dutch network Solidarity will increase the cultivation of conventional and organic soy, and then export the grain to international markets.
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