In Nicaragua a proposal has been made to create a training center to improve the labor performance in free zones and attract more foreign investment to the sector.
In order to improve employees skills and increase the productivity and competitiveness of enterprises, the National Commission of Free Zones (CNZF) is proposing the creation of a textileschool, where ongoing training on production techniques would be provided for the sector.
A bill that is being analyzed by the U.S. Congress aims to reduce the level of tariff preference to only 6% of imports from Nicaraguan textile factories.
Although the possibility exists of an extension of the current Tariff Preference Level (TPL) until 2015, American congressmen have proposed that the benefit be granted only on cotton pants, which represent the lowest proportion of Nicaraguan textileexports to the United States.
After exporting 120 million cigars in 2012, Nicaraguan tobacco companies aim to reach 150 million units in sales in 2013.
If the sale goal is achieved, Nicaragua will have positioned itself as the leading exporter of cigars, removing the Dominican Republic from the top position.
Nicaragua now has a surplus of $1 billion and trade with the country has grown by 75% in six years, thanks to the DR-CAFTA, overtaking Guatemala and the rest of the region.
Six years after coming into force and following record levels of growth in trade and investment, Nicaragua has become the region’s unlikely poster child for DR-CAFTA.
Most notable are the opportunities in agriculture "because there is a lot of land" for production in sectors such as cocoa, rubber, oil palm and sugar.
A delegation of businessmen and government officials from Nicaragua will meet with Guatemalan entrepreneurs from the agricultural sector in order to persuade them to invest in their country.
Two companies will install production plants, one for solar panels and one for cardboard boxes.
The trade agreement signed in 2008 has boosted Taiwanese investments in Nicaragua and created closer diplomatic and commercial ties between both nations.
Exports from companies in the free zone in Nicaragua grew by 44% in the first four months of the year.
The Technical Secretary of the National Commission of Free Zones, Alvaro Baltodano announced projected exports of $1,750 million by the end of this year, of which the textile sector would provide $1,350 million.
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