British Investment and Trade Mission to Nicaragua

Published by The Nicaragua Dispatch

Feb. 27, 2013 - A high level investment and trade mission from the United Kingdom will be visiting Nicaragua for a busy program of meetings with Ministers, officials and senior business leaders during this week.

The visit has been supported by Cable and Wireless, a leading British telecommunications provider with major investments across the Caribbean and Central America.

UK companies participating in the visit are looking forward to meeting partners in Nicaragua to take forward investment and trade opportunities in oil and gas exploration, information technology and telecommunications and healthcare and security services. The ten-person delegation also includes senior policy advisors from the British Foreign and Commonwealth Office.

Together with PRONicaragua, the official investment promotion agency of Nicaragua, and the Nicaraguan Embassy in London, the investment mission has been organized by the newly formed Central American Business Council, a private sector organization based in London which supports companies from the UK and from Central America to explore new trade and investment opportunities in each other’s markets.

The visit forms part of a wider week long mission to Central America where the delegation will also have visited Guatemala.

The British Ambassador to Nicaragua, His Excellency Chris Campbell, commented “last year when I spoke with President Ortega, I undertook to deepen our bilateral trade relations and this is a concrete example of that commitment. This is the first British Trade Mission to Nicaragua for a number of years and we are looking forward to the mutual benefits that we believe will emerge from it. The caliber of companies participating in the Trade Mission shows the interest that UK companies have in Nicaragua. This mission would not have been possible without the collaborative working across both countries by governments and private sector organizations alike.”

Javier Chamorro, Executive Director of PRONicaragua, mentioned “we believe this visit will be an excellent opportunity for UK businessmen to get to know first-hand Nicaragua’s favorable business climate, its positive economic performance and the vast investment opportunities the country offers. Nicaragua’s FDI inflow during the 2007-2011 period grew at a rate of 26 percent per year and the 2012 figure will surely surpass the US$1 billion mark, setting a new record for the country. This comes to show there is a great potential for investment in Nicaragua and we hope this visit from the mission will not only allow us to attract new investments, but will also serve so that UK investors can take advantage of the opportunities that others are already taking.”

Director of the Central American Business Council, Chris Bennett, added “the UK is the second largest investor in the world but there is currently very little British investment in Central America. This investment and trade mission, coming shortly after the signing of the new EU-Central America Association agreement, will introduce major UK companies to the region, some for the first time, and we hope it will be the first of many such missions in the near future.”

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