Nicaragua Businessmen Bet on Trade with Mexico

The business sector expects to achieve a 15% increase in trade between the two countries next year.

Thursday, December 1, 2011

Nicaragua's private sector is awaiting the ratification of the unified Free Trade Agreement (FTA) between Central America and Mexico, which was signed last week and will be ratified by the presidents of the countries involved on 4th and 5th of December.

In order to increase interregional trade and to get their products to Mexico, Nicaraguan businessmen are asking the government to improve the conditions of the land routes and also consider changes to the tariffs that restrict access to the Mexican market.

In addition, they hope that the treaty will help further promote the country as an investment destination for Mexican companies, many of which have operations or interests in Nicaragua.

In an article in Laprensa.com.ni, Joseph Adam Aguerri, president of the Superior Council of Private Enterprise "agrees that the challenge is to reverse the trade situation between the two countries, because while Nicaragua had a bilateral FTA with Mexico, it was the lowest exporter of the isthmus.

But now exports to Mexico are begining to improve, as this year $70 million have been recorded, representing an 18% increase compared to 2010. "



More on this topic

Getting the Most from the FTA with Mexico

February 2012

Nicaraguan products such as leather, footwear, yogurt and other dairy products, and spices, are potential business opportunities under the unified Central America-Mexico trade agreement.

"There is a large niche in the Mexican market which is an opportunity for Nicaragua to place more and more products, to diversify their offering," said Rodrigo Melendez, manager of the economic and commercial section at the Mexican Embassy in Managua, reported LaPrensa.com.ni.

Nicaraguan Businesses Insist on FTA with Venezuela

July 2010

The Nicaraguan Superior Council of Private Enterprise (COSEP) highlights the importance of reaching a commercial agreement to give “certainty” to markets.

Venezuela has become the second largest destination for Nicaraguan exports, beaten only by the USA. Exports surpassed $2 million in 2006 and are at $127.2 million for the first six months of this year.

Increase in Trade Between Nicaragua and the Netherlands

May 2009

Dutch businessmen who have a specific interest in fruit, vegetables and flowers will arrive in September.

Nicaraguan exports to the Netherlands are currently $30 million annually, a remarkable increase compared to less than $3 million in 2002.

This increase is primarily due to ethanol exports from Nicaragua to the Netherlands.

Mexico's trade with Nicaragua grows sixfold under 19998 accord

July 2008

Trade between Mexico and Nicaragua has grown sixfold since a free trade agreement between the two countries came into force in 1998.

Eduardo Sojo, the Mexican economy minister, said that trade between the two countries amounted to US$550 million last year. Nicaragua is now Mexico's third trading partner in the region, he added.

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