The Venezuelan Government is negotiating the purchase of 10 million jeans produced in Nicaraguan Free Zones.
A trade mission from Venezuela, which includes Government authorities and private businessmen, is touring Nicaragua’s free zones. Alberto Baltodano, technical secretary of the National Free Zone Commission (CNZF), remarked that this deal would imply $100 million in revenue for the textile sector.
The Korean company inaugurated a new $1.5 million facility at Industrial Park Astro.
Featuring 7.000 square meters of space, the new facility employs 1.000 people.
From Elnuevodiario.com.ni: “EINS is part of Korean transnational group Senika S.A., which also includes SAE-A Tecnotex. From different parts of the world, they sell over $1 billion worth of products to the United States”.
Income from textile exports dropped in August 2008 compared to the same month in 2007, from %96.5 million to $74.5 million this year.
According to data from the National Free Zone Commission, the reduction in exports reveals that the crisis in the textile and manufacturing sector runs deep and is also affected by the financial shock and recession experienced by the US economy.