Photo composition of Chinese and Nicaraguan government representatives attending the signing of the free trade agreement between the two countries. Photo: Canal 2.
Nicaragua and China have signed a Free Trade Agreement (FTA) that will allow for greater commercial and economic exchange between the two countries, following historic negotiations that have lasted just one year.
During the FTA signing ceremony, which took place this Thursday, August 31, Nicaragua was represented by the son of Daniel Ortega and presidential advisor for the promotion of investment, trade, and international cooperation of Nicaragua, Laureano Ortega Murillo; the minister of finance and credit, Iván Acosta; and the minister of development, industry, and commerce, Jesús Bermúdez. The Chinese delegation was headed by Chinese minister for commerce, Wang Wentao.
“The signing of the Free Trade Agreement between Nicaragua and China will mark a new era for the Nicaraguan people,” Laureano Ortega Murillo stated. He further added that it was “a historic day,” noting that the FTA “opens the doors to a huge market, and will allow us to link up with the companies and businesses of China.”
According to Ortega, the FTA will generate economic and social benefits for the Nicaraguan people, including new investments, the creation of more jobs, and the transfer of technologies from China to Nicaragua.
Mediante una ceremonia virtual #Nicaragua y la República Popular #China hacen historia con la firma del Tratado de Libre Comercio (TLC) que permitirá un mejor y mayor intercambio comercial y económico entre ambas naciones. pic.twitter.com/2oEhdmPbHO
— El 19 Digital (@el19digital) August 31, 2023
“We will reiterate that China can consider Nicaragua as a trade platform for the entire Central American region,” said the Nicaraguan official.
The presidential advisor further highlighted that the relations between Nicaragua and China are based on mutual respect and on recognizing each other as allies and strategic partners, and it was based on this that they were able to finalize the FTA negotiations in only one year.
After the signing of the agreement, Ortega took the opportunity to once again state Nicaragua’s “deep gratitude” to China, and stated that Managua is committed “to carrying out the corresponding actions for the agreement’s entry into effect, in January 2024.”
The Chinese minister of commerce also emphasized that the signing of the FTA is the result of the diplomatic relations between China and Nicaragua, the leadership of the two presidents, and the mutual trust of the two countries.
“The China-Nicaragua FTA is an important initiative to implement the consensus of the leaders of the two countries, and constitutes an important event in the history and in the trade relations of the two countries,” Wang pointed out, noting the “substantial high-speed and high-level cooperation” between the two countries.
(HispanTV)
Translation: Orinoco Tribune
OT/SC/AU
