Costa Rica News – With the aim of increasing trade relations between both countries, Nicaragua and Costa Rica will reactivate the Chamber of Industry and Commerce jointly, in order to expand trade relations between the two countries.
The president of the Nicaraguan-Costa Rican Chamber of Industry and Commerce, Mario Solano Salazar, has convened several companies in Nicaragua that have business relations with Costa Rica, and major companies of Costa Rican capital to the Embassy of Costa Rica in Managua, to reactivate starting on March 6, the Chamber of Industry and Nicaraguan-Costa Rican Trade (CADICONIC).
The objective, explained Salazar, is “to strengthen the expansion of commercial relations between both countries and to facilitate customs and consular and to expedite border procedures.”
CADICONIC acquired its legal status in May 1996. According to estimates of the Central Bank, in 2017 Nicaragua exported products for US$129.3 million dollars to, and imported US$444.2 million dollars from Costa Rica.
Nicaragua sells bovine meat, live cattle, beans, wheat flour, oranges, coffee, unroasted peanuts, rum and shrimp, among other products to Costa Rica.
Meanwhile, Nicaragua buys oil, fuels and lubricants, raw materials and intermediate goods for agricultural and industrial use, palm oil, sauces, medicines, plastic articles and fine bakery products from Costa Rica.
The sector in which there is more Costa Rican capital in Nicaragua is the industrial sector, followed by agriculture and commerce and services, according to Salazar.
“We consider it appropriate to strengthen our commercial policy actions, not only for business and investment promotion, but also to improve the facilities of financing windows for the development of joint projects,” said Salazar.