Nicaragua’s trade and investment opportunities presented in Taipei

April 24, 2013 - PRLog -- This April, PRONicaragua, the official investment and export agency of the country, visited Taipei to promote the country’s competitive advantages in its key economic sectors at a seminar on trade and investment opportunities in Nicaragua. The main objective of this official visit to the Republic of Taiwan was to present the country’s strengths and opportunities as well as the highly attractive business opportunities, specifically in the country’s agricultural sector, which is of interest to the Asian market.

This mission, whose main goal was to continue attracting Taiwanese investment in Nicaragua and foster dynamic bilateral trade opportunities between both nations, was led by Javier Chamorro, Executive Director of PRONicaragua. To accomplish these goals, the Executive Director participated in several meetings with both public and private institutions, and led a country presentation to over 50 participants.

Additionally, PRONicaragua signed a Memorandum of Understanding (MOU) with the Council for the Promotion of Foreign Trade of Taiwan (TAITRA), which aims to strengthen ties of cooperation between the two nations.

During the many visits and meetings held in Taiwan, the sectors with the highest potential for investment were promoted, such as agriculture, light manufacturing and assembly -especially auto parts, apparel and footwear. Regarding the promotion of Nicaraguan products to Taiwan, the agency highlighted the potential of boosting exports of meat, seafood, coffee, sesame and a variety of fruits and vegetables.

Nicaragua is one the 23 allies of Taiwan, making it an important trade and business partner to this South East Asian country. In 2012, Nicaraguan exports to Taiwan reached over US$47 million, compared to nearly US$40 million in 2011, representing an 18.8 percent growth rate. In terms of foreign direct investment (FDI) inflows, Taiwan invested US$14.5 million in 2012, compared to the US$4.7 million in 2011, showcasing a 207 percent growth rate.