The FTA was signed by China’s Minister of Commerce Wang Wentao, and Laureano Ortega, advisor on investment, trade and international cooperation for the office of the President of Nicaragua.
According to the Chinese Ministry of Commerce, the agreement represents the latest effort to improve bilateral economic and trade cooperation after a year of negotiations. The signing is a milestone in economic ties with Nicaragua, and “will further unlock the potential for collaboration in trade and investment and will benefit both countries and their peoples,” the statement says.
The two parts will begin internal procedures to promote the implementation of the FTA as soon as possible.
Laureano recently thanked the highest authorities of the Chinese Government and the Communist Party on behalf of the President of Nicaragua, Daniel Ortega, and Vice President Rosario Murillo, for the high priority and attention they give to the friendly relations between Managua and Beijing.
He also said that the treaty opens China’s doors to Nicaraguan products, while it does the same for Nicaragua in regards to Chinese merchandise, with the aim of generating mutual benefit and eradicating extreme poverty.
According to the information disclosed, Nicaragua will export to China: meat and bovine offal, seafood such as shrimp, lobsters and sea cucumbers, vegetables, beans, peanuts, oils, textiles and clothing, harnesses, coffee, sugar and gold.
jrr/llp/jf/idm
