Taiwanese trade and investment mission visits Nicaragua

MANAGUA, Nicaragua - Dec. 6, 2013 - PRLog -- Nicaragua recently received a Taiwanese businessmen delegation that visited the country December 5th-6th in search of business and trade opportunities between the two countries.

The mission was led by Taiwanese businessman Mike Hung, President of Mike Hung Products Co. Ltd. and Miko Industrial Co., Ltd., as well as Commissioner for International Affairs of the National Association of Small & Medium Enterprises, Republic of China (Taiwan), (NASME). Also participating were an additional 10 Taiwanese companies interested in establishing business relations with Nicaragua.

Taiwan’s Ambassador in Nicaragua, Ingrid Hsing, and Nicaragua’s Ambassador in Taiwan, William Tapia, gave the opening remarks during the inauguration of the Seminar on Trade and Investment Opportunities in Nicaragua.

The seminar included a presentation about NASME by Mr. Hung, as well as other important topics such as Nicaragua’s investment and trade opportunities, free trade agreements, and the free zones regime incentives. These topics were addressed respectively by Vinnitsa Leyton, Investment Promotion Director of PRONicaragua; Ana Maria Torrez, Responsible for Europe and Asia in the Ministry of Development, Industry & Trade (MIFIC, for its acronym in Spanish); and Mauricio Abarca, Investment Promotion Manager of the National Free Zones Commission.

Additionally, on December 6th, a series of business meetings were held between Taiwanese and national companies in order to establish trade alliances between buyers and suppliers of both countries. This mission seeks to promote mainly the textile, apparel and accessories, renewable energy, medicine and agroindustry sectors.

Trade relations between Nicaragua and Taiwan have been gradually increasing in the past years. In 2007, exports to Taiwan were estimated in US$21.2 million and in 2012 they reached US$47.3 million, an increase of 123 percent. In terms of foreign direct investment inflows, the country received a total of US$14.5 million from Taiwan in 2012.