For the local export sector, strategies focused on transforming the productive matrix are needed, so that in the next 20 years’ income from sales abroad will reach $18 billion annually.
According to figures revealed by Nicaraguan exporters, between 2018 and 2019 income from sales abroad increased 6%, growing from $2,617 million to $2,782 million. This increase occurred in a context of falling production.
With the approval of the tax reform, in Nicaragua the period for exporting companies to transfer the tax credit to the producer or manufacturer was reduced from three to two months.
At the end of February, the National Assembly approved the amendment to the Tax Concertation Law, which increases from 1% to 3% the income tax of large taxpayers and also shortens the deadline for exporters to transfer the tax credit to producers, which is 1.5% on the value of FOB exports.
On September 1 and 2 Nicaraguan exporters from various sectors will be exhibiting their merchandise in Managua and taking part in business rounds with international buyers.
The Nicaraguan exporters' union is inviting local and international businessmen to take part in business rounds within the framework of the ExpoApen 2017 exhibition.
Falling short of the the amount achieved in 2015, $42 million worth of deals were negotiated in purchase intentions of products such as honey, fresh fruits, processed foods, seafood, vegetables and meat.
Although the goal of the union of Nicaraguan exporters was more than $48 million traded in the 2015 edition of the trade fair, they did manage to achieve $42 million in two days of activity, which was attended by 64 international buyers from the United States, Canada, Guatemala, El Salvador, Honduras, Costa Rica, Panama, Ecuador, Brazil, Spain and Puerto Rico.
In the trade fair deals were struck worth at least $48 million between exporters and buyers interested in tubers, meat, grains and seeds.
Although it is a preliminary figure, representatives from the Association of Producers and Exporters of Nicaragua (APEN) anticipate that the results of this fair will exceed those achieved in the 2014 edition, when businesses deals were made worth $42 million.
On September 25th and 26th Nicaraguan exporters from various sectors will be taking part in an exhibition in Managua showcasing their goods and holding face to face and virtual business meetings.
From a statement by the Association of Producers and Exporters of Nicaragua:
Some 1,800 businesses face to face meetings and an unspecified amount of virtual ones carried out online, is part of the greatest achievements sought by the fair EXPOAPEN 2015, which this year is celebrating its fifteenth edition.
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.
On September 26th and 27th producers and exporters will participate in business roundtables in the fourteenth edition of the international trade fair in Managua.
The Association of Producers and Exporters of Nicaragua (Apen) is organizing the event with the participation of companies in the sectors of Agriculture, Food, Communication Technology, Tourism and Services.
Work is being done on producing better chia seeds in the country in order to meet the demands of international buyers.
Despite being one of the fastest growing crops in Nicaragua, the current shortage of chia seeds could hinder production. For this reason, the Association of Producers and Exporters of Nicaragua (APEN) is working on the production of a new seed that meets the demands of international buyers.
The South American country is the second biggest destination for Nicaraguan exports.
Exporters to Venezuela "must be prepared" to diversify their market, due to the current situation taking place in the South American nation, said Azucena Castillo, general manager of the Association of Producers and Exporters of Nicaragua. Venezuela is the second biggest destination for Nicaraguan exports.
While in Panama a company can send a container abroad in 10 days, in Nicaragua the process takes 21 days.
Of all the countries in the region Nicaragua is the place where exporting or importing goods takes the longest, significantly increasing the cost of these commercial operations, said the Doing Business report issued by the World Bank (WB).
The cost stated in the report "does not include the payment for freight, which usually varies depending on the final destination of the cargo. In this, according to the WB, are all the costs associated with the completion of the procedures which have to be undertaken for exporting or importing goods. "This includes documentation costs, administrative fees for customs clearance and inspection, customs broker fees, port charges and inland transport costs, among other things." It even incorporates the cost of bribes which sometimes occur in the process of obtaining a document. "
The barriers on the export of the grain to Costa Rica and El Salvador have disappeared, and producers expect to sell about 200,000 quintals abroad.
The export of Nicaraguan kidney beans to Costa Rica and El Salvador went back to normal last weekend after phytosanitary certificates were delivered by the authorities, announced the National Association of Bean Producers and Exporters of Nicaragua (APEN).
In the two days of meetings representatives from 247 companies negotiated sales of $25 million, surpassing previous figures.
The product which made the most sales was coffee at 55%, followed by fruits and vegetables with 22%, said Azucena Castillo, general manager of the Association of Producers and Exporters of Nicaragua (APEN).
"APEN believes that not only was the show successful but also the Third Central American Congress of Food Science and Technology, which brought together 33 international experts, who gave 23 specialized lectures to domestic producers", writes Gisella Canales for La Prensa.
A delegation from the Venezuelan government will negotiate the purchase of 20,000 metric tons of black beans.
The president of the Nicaraguan Association of Producers and Exporters, Enrique Zamora, highlighted the benefit to producers that are organized in cooperatives.
“In 2009, according to statistics from Nicaragua’s Center for Export Procedures, black bean sales to Venezuela were $3.14 million comprising exports of 2,460 tons,” reports Laprensa.com.ni.