📋 Tender Overview
A memorandum of interaction between the Eurasian Economic Commission and the Government of the Republic of Nicaragua was signed by the Minister for Integration and Macroeconomics of the EEC Sergei Glazyev and the Minister of Industry and Trade of Nicaragua Jesus Bermudez. The ceremony took place on January 17 in Managua.
“Nicaragua and the states of the Eurasian Economic Union have traditionally strong ties on a broad agenda, and it is quite logical that, given the active development of Eurasian economic integration processes and positive examples of interaction between the Commission and other partners in the Latin American and Caribbean region, we entered into a direct dialogue with the Government Nicaragua,” said Sergei Glazyev.
The document identifies key areas for the development of cooperation between the EAEU and Nicaragua, such as customs and technical regulation, industry, agriculture, SPS measures, consumer protection and others. It was agreed to begin work in these areas this year at the level of specialized divisions of the EEC and ministries and departments of Nicaragua. This will make it possible to establish effective contacts even before the first meeting of the working group created under the Memorandum.
The parties plan to develop cooperation by exchanging experience and information on issues of mutual interest; holding meetings and consultations, joint preparation and organization of conferences, business missions, including with the participation of representatives of business circles of the states of the Union and Nicaragua, as well as the preparation of joint analytical materials and reports.
“Interaction within the framework of the Memorandum is focused on promoting trade and economic cooperation between the EAEU countries and Nicaragua,” noted the EEC Minister, “and the potential can be unlocked not only by increasing the volume of trade in goods, but also by developing cooperation and implementing joint projects.”
Before signing the document, Adviser to the President of Nicaragua Laureano Ortega and the Minister of Industry and Trade of Nicaragua Jesus Bermudez made a presentation of the economic potential of their country, business conditions with an emphasis on the prospects for developing cooperation with partners from the EAEU countries. Interest was noted in increasing both export and import supplies, as well as expanding the geography of contacts to include all countries of the Union.
Nicaraguan partners informed in detail about the possibilities for the EAEU business community to use the mechanism of free development zones on the territory of Nicaragua and expressed confidence that EAEU partners in practice would be interested in this mechanism, which is actively promoted by the Government of Nicaragua.
Practical aspects of the implementation of the Memorandum are planned to be discussed during bilateral meetings between Sergei Glazyev and the leadership of the Ministry of Agriculture, the Central Bank, the Ministry of Finance and Public Credit, the Ministry of Tourism and the National Commission for Free Development Zones of the Republic of Nicaragua.
