Nicaragua and the Netherlands sign cooperation agreement

Apr. 15, 2013 - A cooperative agreement was recently signed between Nicaragua and the Netherlands in order to facilitate and promote business and trade opportunities between the two countries. The objective of the agreement is to provide a direct link between Nicaraguan institutions and their Dutch counterparts, as well as to support missions to the Netherlands to promote and encourage economic cooperation, and investigate potential opportunities for investment and trade between both countries.

PRONicaragua, the official promotion agency for investments and exports, along with the Nicaraguan Association of Producers and Exporters of Nicaragua (APEN, for its acronym in Spanish), the Export and Investment Center (CEI, for its acronym in Spanish) and the National Council of Twin Cities Netherlands Nicaragua (LBSNN, for its Dutch acronym), were in charge of signing the agreement.

Nicaragua and the Netherlands have been working together with twinning projects between different Nicaraguan and Dutch cities for over 30 years, forming a network of public and private institutions. The agreement seeks to facilitate and support the transformation of the current external cooperation to a business to business approach between both nations over the next three years.

Nicaraguan exports to the Netherlands in 2012 accounted for US$27 million, which compared to the US$11 million in 2011 showed an exponential growth of 143 percent.

The agreement was signed within the framework of the Association Agreement between the EU and Central America and Panama (AA), ratified by the National Assembly of Nicaragua in October 2012, becoming the first country to comply with this procedure. The AA aims to establish a free trade agreement, opening export opportunities for Nicaraguan products and offering better investment conditions for European companies.

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