Export Potential of Footwear Sector in Nicaragua

The country wants to take advantage of the tariff preferences it has to export shoes to the United States and the European Union so as to attract foreign investment to the sector and turn it into an export platform.

Tuesday, October 28, 2014

From a statement by Pro Nicaragua:

All footwear manufactured in Nicaragua has duty free access to the United States, the European Union and other important markets. The numerous preferential access agreements which the country has signed have made it an attractive platform for exports to more than 1,500 million people worldwide.

One of the preferential access agreements which is relevant to the export of footwear is the Free Trade Agreement between Central America and the Dominican Republic (DR-CAFTA). This agreement, which came into effect on April 1, 2006, stipulates that products assembled in the DR-CAFTA region can benefit from duty free access to the United States.

More on this topic

Footwear: In Search of New Business

March 2018

Re-exporters in the Colon Free Zone are seeking to attract companies from Peru, Uruguay, Brazil and Mexico, to compensate for some they of the businesses that have lost due to the taxes imposed by Colombia.

Nearly 70 companies in the Colon Free Zone (CFZ) are among the most affected by the tariff measures imposed by Colombia, the main importer of footwear and textiles that is re-exported from the FTA to Latin America. Panamaamerica.com.pa reports that this is added to  "... Venezuela's economic condition and a drop in purchases from Caribbean countries."

Nicaragua: Footwear Exports Up 26%

November 2014

In the first nine months of the year $15.9 million worth of footwear was exported, which is 26% more than in 2013.

The sector's competitiveness in terms of labor costs, incentives to industry, preferential access to key markets and strategic location of the country, are the main factors attributed to the growth in exports of Nicaraguan footwear.

Colombia-Panama: No Agreement Over Free Zone Tariffs

July 2014

The meeting of the Presidents Santos and Varela made it clear that there will be no immediate solution to the problem of the tariffs Colombia is imposing on imports of footwear and textiles from the Colon Free Zone.

Companies operating in the Free Zone of Colon have seen their sales to Colombia decrease dramatically since the government of that country imposed a protective tariff on all imports of footwear and textiles from countries with which the country does not have a free trade agreement in place. The measure already has been implemented now for nearly two years, removing competitiveness of exports by traders from the CFZ.

Trade Agreements More profitable Than Free Zones

March 2014

Tyre manufacturer Bridgestone has withdrawn from the free zone regime in order to export, with better benefits, under trade agreements with the countries of the Pacific Alliance.

The firm has dissolved Bridgestone de Centroamérica S.A, a company registered in the free zone regime, in order to centralize operations in the local company Bridgestone de Costa Rica, so that it can export under the conditions of the trade agreements.

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