Departments and Offices
The Economic/Commercial Section fosters economic opportunity in the United States and Nicaragua by:
- Providing policy advice to the Ambassador and Washington-based officials;
- Briefing U.S. firms on opportunities and obstacles to trade and investment in Nicaragua;
- Promoting bilateral trade between the United States and Nicaragua;
- Supporting U.S. citizens in their efforts to recover expropriated property;
- Working to afford U.S. firms a level playing field on which to compete.
Our Services /Important Information
Our U.S. and Nicaraguan commercial staff stand ready to assist U.S. businesses and individuals seeking to do business in Nicaragua. We partner with the U.S. Commercial Service – Central America to expand the range of commercial services and resources we are able to provide.
We support U.S. and Nicaraguan businesses in a variety of ways. We regularly meet with representatives from U.S. companies which are interested in doing business in Nicaragua to brief them on the investment climate here. We also offer a range of commercial services for those companies. We provide assistance to Nicaraguan companies which seek to purchase equipment or materials from U.S. companies. We monitor implementation of CAFTA-DR within Nicaragua, and are glad to meet with U.S. businesses encountering issues that would be relevant to CAFTA-DR. Finally, we recruit delegations of Nicaraguan businesspeople who are interested in attending trade shows in the United States.
Please visit the U.S. Commercial Service – Central America site to gain a better understanding of their efforts at: http://www.buyusa.gov/centralamerica/en/. You may also contact our commercial specialists directly at 011-505-2252-7100 (ext. 7371 or 7559), fax 011-505-2252-7564, or e-mail: firstname.lastname@example.org.
The USDA Foreign Agricultural Service (FAS) supports U.S. Agricultural exports to Nicaragua.
The Property Office staff provides support to U.S. citizens seeking to recover expropriated property or involved in other property disputes with the Government of Nicaragua.
The Country Commercial Guide for Nicaragua is a reference document for those interested in doing business in Nicaragua. President Ortega’s remarks on capitalism (in Spanish) also provide useful perspective on the investment climate in Nicaragua.
Environmental protection remains a key policy priority for the United States.
The United States – Central America – Dominican Republic Free Trade Agreement provides the framework for the trade and investment relationship between the United States and Nicaragua. The United States supports the Pathways to Prosperity in the Americas Initiative to deepen existing economic partnerships and cooperation to ensure that the benefits of free trade and open investment are broadly shared throughout our societies.
The Ewing Marion Kauffman Foundation and the U.S. Commerce Department’s International Trade Administration (ITA) have formed Entrepreneurship, a new public-private partnership focused on leveraging best practices in entrepreneurial leadership to advance economic growth around the world.
In his 2010 State of the Union speech, President Obama laid out his plan to rescue, rebuild, and restore America. An important element of the President's plan is to "double exports over the next five years, an increase that will support two million new jobs in America," including the launch of the National Export Initiative.
Only 4% of U.S. businesses export, although 95% of the world’s consumers live outside of the United States. The National Export Initiative (NEI) helps small- and medium-sized enterprises U.S. companies tap into this growth potential by working to remove international trade barriers; increase funding for export promotion and trade financing; and help U.S. businesses seek out new markets overseas. The U.S. State Department, U.S. Commerce Department, Small Business Administration, Export-Import Bank, Overseas Private Investment Corporation, U.S. Trade and Development Agency, and the USDA Foreign Agricultural Service are collaborating in this effort to promote exports.
Investing in America
There are many factors attracting foreign investors to the United States, but among the factors are: our open and welcoming investment climate; the adaptability of the American economy; and the skills and innovative drive of the American people. These are also directly related to why the U.S. recently has enjoyed the fastest acceleration of productivity growth among the major industrialized countries. Despite a 57% plunge in foreign direct investment in 2009, the United States still remained the world's top investment destination. Those interested in investing in the United States can find helpful information from SelectUSA.
Corporate Social Responsibility
The Nicaraguan Union for Social Responsibility is a local nongovernment organization that supports good corporate citizenship in Nicaragua. Several U.S. companies have active corporate social responsibility programs in Nicaragua.
There are many signs that world markets are recovering from the global financial crisis of 2008 and 2009. Recovery.gov provides detailed information on the comprehensive steps that the U.S. Government has undertaken to speed this recovery in the United States. The White House also provides useful information about the progress of the economic recovery.
Competitiveness is an important theme for the Economic Section, as promoted by U.S. Secretary of Commerce Gary Locke in the Americas Competitiveness Forum. A number of measures of competitiveness provide a convenient way to compare Nicaragua to other economies. The U.S. Millennium Challenge Corporation also tracks many competitiveness indicators through a Country Scorecard to determine compact eligibility.
The U.S. is committed to working as part of a collaborative global effort centered around country-led processes to improve food security.
Protecting Intellectual Property Rights
The Economic Section also offers useful information on the protection of intellectual property rights.
American investors working in other countries are subject to the Foreign Corrupt Practices Act, which makes it illegal to offer bribes to government officials in other countries to obtain business, services, or patronage. U.S. investors found violating the FCPA can and have been prosecuted in the United States as a result. Many investors report that invoking the FCPA to government officials seeking bribes allows them to avoid setting the precedent of paying bribes while working in other countries.
Executive Order 13224 provides a means by which to disrupt the financial support network for terrorists and terrorist organizations by authorizing the U.S. government to designate and block the assets of foreign individuals and entities that commit, or pose a significant risk of committing, acts of terrorism. In addition, because of the pervasiveness and expansiveness of the financial foundations of foreign terrorists, the Order authorizes the U.S. government to block the assets of individuals and entities that provide support, services, or assistance to, or otherwise associate with, terrorists and terrorist organizations designated under the Order, as well as their subsidiaries, front organizations, agents, and associates.
Foreign Account Tax Compliance Act (FATCA)
The Foreign Account Tax Compliance Act (FATCA) is an important development in U.S. efforts to improve tax compliance involving foreign financial assets and offshore accounts. More...
U.S. - Central America - Dominican Republic Free Trade Agreement
http://www.export.gov/FTA/FTATariffTool/. U.S. exporters now have an online resource that streamlines tariff information for goods going to 20 foreign markets with which the U.S. has negotiated trade agreements. This information has never before been available free of charge in one searchable database. This new tool makes it easier for small businesses to grow and prosper through exports. The website also contains an instructional video, a quick start guide, and a user’s manual.
U.S. trade agreements boost American competitiveness in foreign markets and improve the global business environment, helping U.S. companies and workers to compete. The FTA Tariff Tool will help more small businesses take advantage of these valuable export opportunities.
“This new tool makes it even easier for small businesses to begin exporting,” said Small Business Administration Deputy Administrator Marie Johns. “Many small business owners would benefit from exporting but might not have the time or resources to get started. Giving small business owners a simple way to navigate the complexities of tariffs and international trade is a crucial step in ensuring they have what they need to grow their business and create jobs.”
The new online tool combines tariff and trade data into a simple, easy-to-search public interface that allows small businesses and other U.S. exporters to find detailed information for the 17 U.S. trade agreement partners and three pending partners. The FTA Tariff Tool empowers the user to perform searches for tariff treatment for specific industrial products under each trade agreement instantly and at a glance. This will help small manufacturers with planning for entry into new export markets. The tool also enables the user to access market and sector reports and other FTA-related information that is useful for small businesses seeking new export opportunities.
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