USA Protects Nicaragua Against TPP

Most of the products which Nicaragua exports to the USA will continue to enjoy, for at least 10 years, tariff advantages compared to those products sold within the Transpacific Association Agreement.

Tuesday, February 2, 2016

From a statement issued by the US Embassy in Managua:

The Director of the Office of Bilateral Trade Affairs, Department of State, Robert D. Manogue, visited Nicaragua for the purpose of holding meetings with government cabinet members in charge of the portfolio of foreign trade and private sector members, with whom he discussed opportunities for Nicaragua to achieve greater economic prosperity.

Director Robert Manogue took the opportunity at the INCAE to meet with private sector representatives of Nicaragua, members of the diplomatic corps and the academic community in the country. During his speech, he talked about the critical role of the Free Trade Agreement between the US, Central America and the Dominican Republic (CAFTA-DR) for the prosperity and growth of member countries and reiterated the US's commitment to its business partners in the region.



More on this topic

Nicaragua 2015: No More Korean Cars, U.S. Cars Instead

February 2014

Companies are preparing for the process of tariff reduction for imported goods and services from the United States under the FTA.

Starting 2015 various products will be able to come into Nicaragua from the U.S. tax free. Employers are now preparing for the tariff reduction process of the Free Trade Agreement between the U.S., Central America and Dominican Republic (DR -CAFTA).

U.S. - Central America and Obama's Visit

April 2013

Since the entry into force in 2006 of the DR-CAFTA, the tip in favor of the U.S. in the trade balance has multiplied by 5.

"The Central America to which President Barack Obama is coming to visit on on Friday is a region that maintains multiple communication vessels with the United States, including a growing trade relationship which in 2012 amounted to $40 billion, although very much in favor of the American power," reported Prensa.com.

Tariff Preferences for Textiles At Risk

April 2013

The preferential system which allows Nicaraguan textiles made with raw materials from countries outside of the DR-CAFTA to enter the U.S. without tariffs will expire at the end of 2014.

"... By the end of next year the nine-year grace period given by the United States to Nicaragua will expire, a benefit known as tariff preference level (TPL) which allows the country to export clothing made from yarn and fabrics from third countries for a maximum annual volume of one hundred million square meters." noted an article in Laprensa.com.ni.

Nicaragua and DR-CAFTA

April 2011

Nicaragua is one of the countries which has benefited the most from the Free Trade Agreement.

Robert Callahan, U.S. Ambassador in Nicaragua, added that the Central American country currently has a positive trade balance of $1.078 with the U.S.

Additionally, exports to the North American country have increased 71% in the past five years, from $1.170 million in 2005 to $2.012 million in 2010.

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