July 17, 2012
-- General Alvaro Baltodano, Presidential Delegate for Investment Promotion and Trade Facilitation of the Government of Nicaragua, recently participated in a forum organized by the Association of American Chambers of Commerce in Latin America (AACCLA) with the objective of strengthening economic and commercial ties with the United States.
During his presentation on Nicaragua’s economy and investment opportunities, Baltodano stressed that both countries “must work together to ensure that we are involved in initiatives that link our economies, which lead us on a path to prosperity. We believe that trade and investment are factors that will promote sustainable development for Nicaragua in the long term”.
Baltodano added that Nicaragua’s plans for continued economic growth and development are based on production, investment and trade. And when it comes to trade and job creation, the U.S. is still Nicaragua’s most important partner, Baltodano said. He noted that exports have grown faster than any other Central American country thanks to CAFTA.
“We grew in the middle of a crisis as a result of CAFTA and my government’s willingness to take advantage of the trade agreement,” Baltodano said. “We still have the same desire to keep growing.”
Between 2006-2011, Nicaragua’s exports have grown 121 percent, and overall, commerce has grown 67 percent under CAFTA.
In 2011, the U.S. invested US$158 million in Nicaragua, focusing primarily in the commerce and services, energy and free zones sectors.