Chinese trade delegation arrives in Nicaragua

Photo: Laureano Ortega’s X account.

An official trade delegation from the People’s Republic of China began a visit to Nicaragua on Monday, with the aim of exploring investment opportunities and opening up new markets, according to local authorities. The visit includes participation in a business conference in the Honduran capital of Managua and meetings with Nicaraguan productive and business sectors.

The Chinese delegation is headed by Li Xinqiang, Director General of the Department of Foreign Trade of the Ministry of Industry and Commerce of China, and is composed of 24 businessmen and 8 officials from the same ministry. 

Laureano Ortega Murillo, son of Nicaragua’s authoritarian President Daniel Ortega and Vice President Rosario Murillo, welcomed the delegation and stressed that these businessmen are in Nicaragua to collaborate with local companies and promote the export of Nicaraguan products to the Chinese market.

After their arrival in Managua on Sunday evening, the delegation has scheduled meetings with authorities from the Central Bank of Nicaragua, the Ministry of Industry and Trade, and the Secretariat of Investment and Exports. The main objective of these meetings is to analyze the potential for increasing Nicaraguan exports to China and to encourage Chinese investment in Nicaragua, especially in sectors related to the export of food products.

In addition to the meetings, the Chinese delegation will participate in a business conference where they will seek to strengthen trade alliances and the strategic partnership between the two countries. Ortega Murillo stressed the importance of making the most of the Free Trade Agreement (FTA) between Nicaragua and China, which came into effect on January 1st 2024, as well as the direct maritime routes that already exist between the two countries.

Ortega Murillo, who is also the government’s advisor for investment, trade and international cooperation, highlighted the high priority that China gives Nicaragua in this bilateral relationship, describing it as a partnership based on brotherhood, fraternity and mutual cooperation.

Recently, on August 1st, Nicaragua and China inaugurated a direct maritime trade route as part of the Belt and Road Initiative, adding to the benefits of the FTA. In addition, Nicaraguan authorities also recently launched the US$430 million Chinese-funded reconstruction, expansion and modernisation project of the Punta Huete International Airport, which is expected to take four years to complete.

Main source:

Una delegación oficial de China visita Nicaragua en busca de oportunidades de inversión – Infobae.