Acosta Montalvan yesterday attended a meeting with Iranian businessmen at Iran’s chamber of commerce and explored ways for enhancing economic ties with Iran. Iran’s chamber of commerce president Gholamhossein Shafei and his deputy Hossein Salahvarzi were present in the meeting.

IRAN NEWS ECONOMIC DESK

Addressing the meeting, Advisor to Nicaraguan President Laura Ortega briefed the participants of recent economic developments in his country, adding that in the past 10 years, economic growth in Nicaragua has been on the rise and in good condition, and the country has levied new regulations for expanding foreign investments.

Ortega also pointed to Nicaragua’s incomes through exports, adding that Nicaragua’s incomes from exports are around $5b annually and the country’s foreign investments is over $1b.

He also said that Nicaragua’s annual inflation rate is around 3.8 percent and devaluation of national currency is around 5% annually.

He went on to say that since 2007 and after adopting certain policies, Nicaragua’s economy has grown significantly  and today it has the highest economic growth rate in the Central America.

Ortega further added that tourism industry is the major source of incomes in Nicaragua’s economy, adding that over 2m people visit his country annually.

He reiterated that Nicaragua’s tourism industry needs investment in construction of hotels and Iranian investors can enter this sector and take advantage of this capacity.

Ortega added that Nicaraguan government implements different types of incentives for foreign investors, reiterating that exchange of national currency into foreign currencies is allowed and return of capitals and assets of investing companies are exempted from tax and investor can be 100 percent foreigner.

He reiterated that government’s behavior is the same with all foreign investors and intellectual property is observed.

Ortega added that active companies in free zones of Nicaragua are exempt from tax.

Meanwhile Nicaragua’s Finance Minister Acosta announced Nicaragua’s readiness for revival of bilateral relation, adding that both countries have signed a comprehensive agreement to resume new chapter of economic relations.

He reiterated that private sectors of both countries should enter the scene and help the bilateral trade grow.

He also welcomed the recommendation for bartering goods, adding that in Nicaragua, there are grounds for activities and production of meat, and Iranian investors can invest in this sector and produce halal meat for Iran and exports to other Islamic countries.

Acosta reiterated that Nicaragua is a gateway for having access to 45 countries and their 1.5b population.

Meanwhile president of Iran’s chamber of commerce Mr. Shafei said that the political views of both countries are close, adding that it can be a good capacity for expanding economic relations.

He pointed to the current trade level of both countries, noting that great efforts  should be made for boosting the trade volume because till 2016 the trade volume level was growing but after that, the trend of trade exchanges fell sharply.

He also criticized the U.S. unilateral sanctions, adding that bartering goods is one option for Iran’s private sector to skirt it.

Shafei also noted that revoking visa regime is one solution for developing the current trade level between both countries.