Nicaragua promotes investment and trade opportunities in Washington D.C

MANAGUA, Nicaragua - May 14, 2014 - PRLog -- A Nicaraguan delegation, which included representatives from the government and the private sector, traveled to Washington D.C. to stimulate the economic relationship between the two countries and promote Nicaragua’s investment and trade opportunities.

The mission was led by General Álvaro Baltodano, Presidential Delegate for Investments; with the support of José Adán Aguerri, President of Superior Council of the Private Enterprise (COSEP, for its acronym in Spanish); and César Zamora, representative of the Association of American Chambers of Commerce in Latin America (AACCLA, for its acronym in Spanish).

During the visit, the Nicaraguan delegation met with the Sub-Secretary of State for Central America and the Sub-Secretary of Commerce for Central America. The mission also served as an opportunity to discuss concerns related to the economic measures the U.S. is taking with peanut and tobacco, two of the most important export products of Nicaragua.

The U.S. is the most important commercial partner for Nicaragua. Merchandise exports to the U.S. during 2013 reached US$606 million, 25 percent of the country’s total exports. Moreover, according to preliminary figures, foreign direct investment inflows from the U.S. in 2013 summed US$405 million, 29 percent of total FDI inflows that year, and a 113 percent increase in relation to 2012.

The top export products to the U.S. in 2013 were coffee (25%), gold (25%), meat (17%), lobster (5%) and sugar (4%). However, growing trends include automotive harnesses, tobacco, ornamental plants, palm oil, and farmed shrimps. Furthermore, Nicaragua is the 11th top clothing exporter to the U.S.