Trade and Business in Nicaragua

The objectives of the subject “Foreign Trade and Business in the Republic of Nicaragua” are the following:

1. To analyze the Nicaraguan Economy and Foreign Trade (Import, Export, FDI);
2. To know the business opportunities in the Republic of Nicaragua;
3. To explore the Nicaraguan trade relations with the country of the student;
4. To know the Nicaraguan Free Trade Agreements;
5. To examine the profile of Nicaraguan Companies;
6. To develop a business plan for the Nicaraguan Market.

The Subject “Foreign Trade and Business in Nicaragua” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Masters (MIB): Business in America, International Business, Foreign Trade.

Doctorate (DIB): American Business, World Trade.

Course: Business in Central America.

Learning materials in or Nicaragua Nicaragua Nicarágua.

1. Credits of the subject “Foreign Trade and Business in Nicaragua”: 1 ;
2. Duration: one week.

Nicaraguan Free Trade Agreements and Market Access

1. Nicaragua and the Latin American area;
2. Central American Integration System (SICA)
   1. Central American Common Market - Integrated with the SICA -.
3. Association of Caribbean States (ACS);
4. Bolivarian Alliance for the Peoples of Our America (ALBA);
5. Latin American and Caribbean Economic System (SELA);
6. The Republic of Nicaragua has Free Trade Agreements (FTA) in force with Mexico, Panama, Colombia, European Union, and Chile;
7. Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR);
8. Dominican Republic-Central America (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua) Free Trade Agreement (FTA);
9. Nicaragua-Taiwan Free Trade Agreement (FTA);
10. South Korea-Central America (Costa Rica, El Salvador, Honduras, Nicaragua, Panama) Free Trade Agreement (FTA);
11. United Kingdom-Central America Free Trade and Economic Integration Agreement;
12. Panama-Nicaragua Free Trade Agreement (FTA);
13. Mesoamerica Project;
14. Global System of Trade Preferences among Developing Countries (GSTP);
15. Latin American Integration Association (ALADI) (observer).

Trade Facilitation Programs

1. World Trade Organization (WTO)
   1. WTO General Agreement on Trade in Services (GATS);
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS);
   3. WTO Agreement on Technical Barriers to Trade (TBT);
   4. WTO Agreement on Preshipment Inspection (PSI);
   5. WTO Agreement on Safeguards (SG);
   6. WTO Trade Facilitation Agreement (TFA).
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).

American Trade and Economic Organizations:

1. Inter-American Development Bank (IDB);
2. Organization of American States (OAS);
3. Economic Commission for Latin America and the Caribbean (ECLAC);
4. Forum for East Asia-Latin America Cooperation (FEALAC);
5. Community of Latin American and Caribbean States (CELAC)
   1. European Union-CELAC Summit.

Global Organizations:

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. World Intellectual Property Organization (WIPO).
2. World Bank (WB);
3. World Trade Organization (WTO);
4. International Monetary Fund (IMF).

The Republic of Nicaragua.

1. The population of the Republic of Nicaragua (6 million) is very young (80% under the age of 39);
2. Managua, the capital of the Republic of Nicaragua, has a total population of 1.3 million people; 27% of the population of Managua (350,000) are between 20-34 years;
3. Nicaraguan official language: Spanish;
4. Nicaragua has an advantaged location on the American continent (2'30 hours by Air, three days by sea from the United States);
5. Nicaragua shares borders with Honduras and Costa Rica;
6. Nicaragua is the biggest nation in Central America (130,600 square kilometers);
7. Nicaragua gained the independence from Spain in 1811;
8. Abolition of Slavery in Nicaragua: 1836;
9. African Diaspora in Nicaragua: 0.5 million people (9% of the Nicaraguan population);
10. Political crisis.

Religion in Nicaragua: Christianity (Catholicism: 2.6 million).

Nicaragua belongs to the Western Civilization - Latin American area.

Nicaraguan Economy

1. The Republic of Nicaragua is one of the top economies in the Central American region with the most favorable conditions for doing business (World Bank);
2. Nicaragua has a 22,000 kilometers of road network connecting Managua (the Capital of Nicaragua) to all the main cities;
3. The Pan-American Highway (370 kilometers) connects Nicaragua with Honduras and Costa Rica;
4. The telecommunication sector is completely privatized and is considered to be one of the most modern in Central America;
5. On the Latin American Globalization Index, Nicaragua was ranked as the third most globalized country in Latin America;
6. The flight time from Managua to the United States is two hours by plane and three days by ship. This proximity of Nicaragua to North America, Central, and South America positions it as very interesting facilities for companies exporting to these markets;
7. Nicaraguan Gross Domestic Product: 6,400 million;
8. Agribusiness, fisheries, and forestry accounted for 19% of the GDP of Nicaragua;
9. In the Republic of Nicaragua, there are thirty-eight industrial parks, mainly in the textile and clothing sector and manufacturing sector (especially medical devices);
10. Nicaraguan Currency: Córdoba.

Foreign Trade of Nicaragua

1. Nicaraguan total exports: 2,700 million dollars;
2. Nicaragua is an excellent export platform for access to regional markets (Mexico, Central and South America, and the Andean Countries);
3. Nicaragua is a member of the Central American Common Market;
4. Nicaragua is the third most globalized nation in Latin America (Latin American Globalization Index);
5. Main Export Markets of the Republic of Nicaragua are the United States, Central American Common Market, European Union (EU), Mexico, and Japan;
6. The main import partners of Nicaragua are the United States, Mexico, Costa Rica, Venezuela, Guatemala, and El Salvador;
7. The Inter-American Development Bank forgives 50% of Nicaraguan foreign debt.

Foreign direct investment (FDI) in Nicaragua.

1. Total FDI: 434.2 million dollars;
2. The main sectors receptors of foreign direct investment: energy, telecommunications, and Free Zones.

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(c) EENI Global Business School (1995-2022)
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