The parties made positive progress and held in-depth consultations on various topics of interest such as trade in goods and in services and they also addressed financial services and the temporary entry of commercial personnel.

The delegations from both countries were led by China’s Vice Minister of Commerce, Wang Shouwen, and Nicaragua’s Minister of Development, Industry and Commerce, Jesús Bermúdez,

The Early Harvest agreement, which is considered the prelude to the FTA and constitutes an opportunity for Nicaragua to increase its exports to China, entered into force on May 1st.

The accord makes it possible to market merchandise with zero tariffs between the two countries, in addition to allowing Nicaraguan producers and economic entities to have a wide consumer market.

According to official data, trade between Nicaragua and China reached 760 million dollars in 2022. China exported textiles, computer and communication equipment, and imported agricultural products, sugar, leather, and wood from Nicaragua.

Nicaragua currently has 13 trade, bilateral and integration agreements with China, which involve some 1.5 billion consumers with preferential access, and according to the authorities, the FTA will double that.

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