More Business Between Nicaragua and Canada

Nicaraguan businessmen propose evaluating the possibility of negotiating a commercial agreement with the North American country, to which coffee, peanuts, sugar, beans, tobacco products and beverages are currently exported.

Friday, February 23, 2018

The good results obtained after a visit made by Canadian businessmen a few days ago has awoken interest in the local private sector to deepen relations with the North American country, through improvements in tariff and commercial conditions.

Rosendo Mayorga, president of the Chamber of Commerce and Services of Nicaragua (CCSN), told Elnuevodiario.com.ni: "..."We are always looking to the north, but we see the United States and we forget that after the United States there is Canada and definitely there is a very interesting market that can be explored and exploited since it is virgin."

Currently "... The commercial exchange between both countries is carried out under a Generalized System of Preferences (GSP) that was introduced in 1974 with a duration of ten years, but was renewed in 1984 and then in 1994 with effect until 2004. But according to the report Trade Agreements and Agreements Negotiated by Nicaragua, published on the website of the Ministry of Development, Industry and Trade (Mific), adjustments were recently made to this scheme. However it does not detail on what date they were made, nor when their validity was extended."

Nicaragua sells coffee, peanuts, sugar, beans, tobacco products and beverages in Canada, and imports petroleum, fuels, lubricants, construction materials, raw materials and intermediate goods for the agricultural and industrial sector and capital goods for transportation and for agricultural and industrial use.

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With the aim of increasing trade relations between both countries, efforts will be made to facilitate customs and consular procedures, in order to expedite border procedures and others.

The president of the Nicaraguan - Costa Rican Chamber of Industry and Commerce, Mario Solano Salazar, recently called on the various companies that maintain commercial relations with Costa Rica, and the main companies founded with Costa Rican capital, to reactivate, on Tuesday, March 6, 2018, in the the Embassy of Costa Rica in Nicaragua, the Nicaraguan - Costa Rican Chamber of Industry and Commerce (CADICONIC), in order to strengthen the expansion of trade relations between both countries and to facilitate customs and consular procedures so as to expedite the procedures related to border and procedural matters.

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