Nicaragua seeks to internationalize local companies

MANAGUA, Nicaragua - June 13, 2014 - PRLog -- The Government of Nicaragua, in collaboration with the European Union, recently launched a program to aid local companies in building capacity and increasing their competitiveness in order to penetrate key international markets. Within the “Competitiveness Strengthening Program for Nicaraguan Enterprises”, the trade promotion component focuses on showcasing the country’s export offer by providing the necessary support to companies so they can properly prepare to participate in important trade events in Europe or Central America.

The trade promotion component of the program will assist participating companies with different studies, a market analysis, an evaluation of the most adequate international trade events to attend, training and preparation by an expert prior to the event, and logistic support, including all necessary payments and arrangements to participate in the event. Additionally, the program will organize a one-day personalized business agenda during the event in order to foster business deals.

Currently, the program is targeting companies from sectors such as agribusiness, textile and apparel, wood furniture, leather footwear and accessories, arts and crafts, and services. Nonetheless, it is not exclusive to these sectors; any company that meets the requirements can take part in this program: companies need to be currently exporting or have export potential, must be legally established and operating in Nicaragua for at least one year, must possess the adequate production facilities, and must be able to meet the program’s financial obligations.

The program requires a financial commitment on behalf of participating companies, however, thanks to funding from the European Union, the monetary contribution could be lower than 25 percent of total costs, taking into consideration the company’s size.

The program is being administered by the Ministry of Development, Industry and Trade (MIFIC, for its Spanish acronym) and PRONicaragua, the country’s official investment and export promotion agency. These institutions are currently building a portfolio of companies to take advantage of the program, the first group of which is currently participating in the 2014 World Cocoa Conference in Amsterdam, The Netherlands.

Additional to commercial promotion abroad, the “Competitiveness Strengthening Program for Nicaraguan Enterprises” also looks to support companies in reinforcing their quality standards, environmental responsibility, and business development plans.

For more information on this program write to exports@pronicaragua.org