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 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.
The lifting of restrictions on bean exports has revealed a harsh reality as previous buyers are being supplied by other vendors.
Nicaraguan bean exports have failed to recover from the negative effects of restrictions on its output by the government for a year, which were finally lifted in early 2012 - due to the loss of markets that these obstacles created.
Six Nicaraguan companies traded coffee, honey, sesame seeds, and cashews with European buyers at the organic products fair Biofach 2012.
The Association of Nicaraguan Producers and Exporters (APEN) and the Export and Investment Center (CEI), reported that six Nicaraguan companies also connected with 80 potential buyers.
The most popular products were coffee, honey, sesame seeds, and cashews, which will be sent to Germany, UK, Belgium, Italy, Switzerland, Austria, Holland, France, Spain and Denmark, according to an article on Laprensa.com.ni.
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.