The present research paper takes the Nicaraguan Export Processing Zones as an exemplary case to investigate in how far it is possible for countries in the Global South to take steps towards Decent Work despite the pressures caused by export competition. In Nicaragua, export processing zones had a negative reputation for paying low wages and incompliance with trade union and workers’ rights. However, a process of Social Dialogue that has resulted in tripartite agreements is seen as an important factor for the sector’s successful recovery from the 2008–2009 world economic crises by local stakeholders. The present research study thus looks at the question in how far Decent Work and economic development have been successfully combined in Nicaraguan EPZs Social Dialogue.