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Nicaragua discloses regulations of FTA with China (+Photo)

Managua, Feb 20 (Prensa Latina) Authorities from the Ministry of Development, Industry and Commerce (MIFIC) of Nicaragua disclosed the regulations of the Free Trade Agreement (FTA) between Nicaragua and China.

In a meeting with institutions of the Government, the National System of Production, Consumption and Commerce and the beef, pork and beef sectors, among others, the general director of foreign trade of MIFIC Maricruz Prieto explained the requirements that products must meet in order to reach the Chinese market.

She stated that the objective of this first meeting was to publicize the opportunities that the productive and export sectors of Nicaragua may have to take advantage of the FTA with China.

The Institute for Agricultural Protection and Health presented the sanitary and phytosanitary requirements to export products such as meat (beef, pork, poultry), honey, dairy products, fishing, fruits, cocoa, coffee, textiles, clothing, crafts and footwear.

According to Prieto, the trade agreement between Managua and Beijing constitutes a great opportunity for Nicaragua because China has more than 1.4 billion inhabitants.

“This is a challenge for our producers, a great opportunity for such a large market, which also imports billions of dollars from the entire world,” she highlighted, adding that since May of last year, when the early harvest agreement between China and Nicaragua came into effect, some products such as shrimp could already be exported to the Chinese market.

Prieto mentioned that the FTA has no limitations for products except sugar, for which a quota was negotiated, whose export limit is 50 tons per year, with a tariff of 15 percent.

The official argued that, although they do not intend to supply Chinese demand, they want Nicaraguan products to reach that market and position themselves to diversify exportable supplies.