Amcham and the union of exporters will give training to exporting companies on issues such as labeling and market intelligence, and coordinate trade missions made up of US companies, coming to the country.
From a statement by the Association of Producers and Exporters of Nicaragua:
The Association of Producers and Exporters of Nicaragua (APEN) and the American Chamber of Commerce (AMCHAM) signed on Tuesday morning July 28, a Framework Partnership Agreement, which aims to search for business opportunities for members of both institutions through the promotion of actions and projects that contribute and facilitate trade and investment between Nicaragua, the United States and other countries.
The possibility that the United States will not renew tariff preferences for Nicaraguan textiles at the end of the year is forcing the industry to prepare changes to their production schedule.
Although there is a possibility that the United States will grant an extension of the benefits of the Tariff Preference Level (TPL), if they are not renewed, starting January 1st, 2015 the Nicaraguan textile sector may no longer sell to United States products made from raw materials from countries that are not part of DR-CAFTA.
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).
Entrepreneurs are unaware of new judicial courts especially dedicated to solving conflicts or disputes in this matter.
The entity was created a year ago and is responsible for resolving complaints and appeals related to tax and customs matters generated against institutions such as the Directorate General of Customs (DGA) and the Department of Revenue (DGI) .
Nicaraguan businessmen fear that the United States could retaliate against the country and that this would affect exports, investment and remittances.
Employers petitioned President Daniel Ortega to reconsider its offer of asylum to former U.S. consultant Edward Snowden. "We believe that there are no conditions for asylum," said the president of the Superior Council of Private Enterprise (Cosep), Jose A.
In Nicaragua the Concession Act for Non Intrusive Inspection has been approved, allowing the award for a period of 15 years of a contract to a Panamanian company.
According to the deputy Jenny Martinez, with the award (prior to approval of the Act) the company Alvimer Internacional are ensuring the use of modern technology scanners to move goods, which will save time for the commercial sector and therefore also save money.
This commercial alliance aims to assist Nicaraguan small and medium industrial companies.
Signed between NACC (American Nicaraguan Chamber of Commerce) and CADIN (Nicaraguan Chamber of Industries), the alliance looks to foster and promote bilateral trade.
Alfonso Oviedo, NACC president, commented that "the alliance will strengthen trade and exporting mechanisms for SMEs.