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Nicaragua and China will have a Free Trade Agreement in August

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The agreement represents a significant boost for the Central American country’s economy.

  • The modernization of agriculture is one of Nicaragua’s objectives after the FTA with China.

A Free Trade Agreement (FTA) is being negotiated between Nicaragua and China, to be signed in August, according to the Minister of Industry, Development and Commerce of that country in Central America, José Bermúdez.

This agreement which will give a vital boost to the economic development of your country and it could come into effect in January 2024, explained the headline in an interview for the program Estudio TN8, on local television.

In the opinion of Bermúdez, the negotiations are setting a precedent for future markets, regarding disposition, willingness and speed shown by both countries in all the documentation of the CST.

As stated, until this week the material was between 70 and 90 percent complete in its various chapters. In the current phase of exchange seek an agreement on sensitive products for both countries, especially food, textiles, harnesses, coffee; sugar and gold, among others.

Those nations re-established diplomatic and commercial relations in December 2021and since then both sides have been working to deepen mutually beneficial exchanges.

One of the latest is the Early Autumn Agreement between Managua and Beijing, in force since May 1 last with Nicaragua’s main export products.

Currently, the Sandinista government manages about 13 trade agreements, bilateral and integration, and about 1.5 billion consumers have preferential access, a figure that is to be doubled as the new FTA with China.

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