Nicaragua, Honduras Restore Bilateral Trade

Managua,  (Prensa Latina) Nicaragua and Honduras agreed to remove restrictions and restore trade ties, decreased significantly after the military coup of June 28, 2009 in Honduras.

According to report released Wednesday, the Minister of Agriculture, Forestry and Industry and Development and Trade, Ariel Bucardo and Orlando Solorzano, respectively, met on Tuesday the deputy minister of Industry and Trade of Honduras, Leyla Paramo, for that purpose.

Nicaragua broke off relations with Honduras after the coup that ousted the country’s constitutional president Manuel Zelaya, and trade showed a slight reduction thereafter.

In 2009,Nicaraguan exports to Honduras, mainly consisting of agricultural products, amounted to a total of 103 million dollars, but they fell to only 64.7 million in 2010, mainly due the lack of sanitary and phytosanitary controls, Solorzano said after meeting.

Now we have agreed to liberalize trade barriers as a gesture of good will of both governments, with the aim of strengthening economic ties, said Solorzano.

According to Solorzano, agreed mechanisms aim to facilitate and deepen the free trade and complementarity between the two countries, and Nicaragua may be able to export aquaculture, meat and poultry products, among others.

The background to the decision to eliminate obstacles limiting trade between both sides of the common border is the reconciliation agreement signed on May 23 in Cartagena de Indias, Colombia, by Zelaya and Honduras� current President Porfirio Lobo.

That agreement was the culmination of discussions brokered by the presidents of Colombia and Venezuela, Juan Manuel Santos and Hugo Chávez, respectively, which allowed the return of Zelaya to Honduras and the official recognition of the Popular Resistance Front (FNRP), among other results

On 22 May, at a meeting of the so-called CA-5 in Managua, the presidents of Nicaragua, Honduras, El Salvador and Guatemala supported the agreement signed hours earlier in Cartagena de Indias and decided to reinstate Tegucigalpa to the Central American Integration System (SICA), paralyzed from the coup.

The same day, Nicaragua announced the full restoration of diplomatic relations with Honduras.

One response to “Nicaragua, Honduras Restore Bilateral Trade

  1. Pingback: Nicaragua, Honduras Restore Bilateral Trade | colareboenglish | Today Headlines

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