| Nicaragua gears up to take on international textile and clothing industry |
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In August, USAID’s Enterprise and Employment Program (E&E, managed by CARANA) sponsored Nicaragua’s first participation at the textile and clothing trade show Sourcing at MAGIC 2011 in Las Vegas, the largest for the industry in North America. The country was represented by PRONicaragua (Nicaraguan agency for foreign investment attraction) in coordination with the National Free Zones Commission (CNZF), the Nicaraguan Association of the Textiles and Apparel Industry (ANITEC) and the Nicaraguan Chamber of Private Industrial Parks (FCNZFP).
Based on findings from a study she completed for E&E, garment industry specialist Mary O’Rourke from O’Rourke Group Partners gave a presentation where she explained that Nicaragua is the most cost-effective provider in the region. Nicaraguan authorities are working to further enhance the nation’s competitive position with the construction of a deep-water port on the Caribbean coast, the development of national cotton production to supply the industry and the streamlining of customs procedures. The advantages of doing business with Nicaragua’s apparel industry are being noticed, as demonstrated by the country’s lead in exports growth by volume to the US in 2011. (Chinese exports remain the largest in volume and value but the total tonnage exported decreased.) In Las Vegas, the Nicaraguan delegation reported several potential buyers at the trade show expressed interest in finding sourcing alternatives outside of Asia and were eager to learn more about Nicaragua. PRONicaragua’s Executive Director Javier Chamorro was pleased to return home with a database of over 100 new contacts, which he will use to craft a marketing plan to attract more international buyers. 71% of those contacts were buyers or importers of a wide range of clothing products. They expressed interest in procuring more than $40 million of textile goods from Nicaragua, including five potential investors now looking into establishing production facilities in Nicaragua. Published October 2011 Share through your favorite Social Bookmarking websites
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