China and Nicaragua inaugurate new maritime trade route

In the picture Laureano Ortega Murillo, son of Nicaraguan President Daniel Ortega, with the Chinese ambassador in Managua, Chen Xi. Credit: CCC César Pérez.

Nicaragua and China inaugurated this Thursday, August 1, a new direct maritime trade route that seeks to maximize the benefits of the Free Trade Agreement (FTA) between the two countries, which came into effect on January 1 this year. 

The establishment of the new trade route was developed within the framework of the Belt and Road Initiative. The inauguration took place in the port of Corinto, Nicaragua’s main Pacific port, where the Chinese ship Sunny Fortune arrived from the port of Tianjin, China. 

According to Laureano Ortega Murillo, son of Nicaraguan President Daniel Ortega and the government’s Advisor for Investment, Trade and International Cooperation, the route is expected to see three ships carry out the journey monthly due to the distance between the two nations.

The Chinese ambassador in Managua, Chen Xi, emphasized that this new commercial maritime route seeks to significantly boost Nicaragua’s trade with other countries. During the opening event, which was broadcast by official Nicaraguan media, several authorities from both countries were present. 

Representing Nicaragua were the Minister of Finance and Public Credit, Bruno Gallardo, and the Minister of Transportation and Infrastructure, retired General Óscar Mojica. On behalf of China, Ambassador Chen Xi and Chinese businessmen participated.

The inauguration of the route included the import of 23 pieces of equipment and machinery for the reconstruction, expansion and improvement of the Punta Huete international airport. This airport, located 58 kilometers northeast of Managua, is scheduled to be completed in four years. The Chinese company CAMC Engineering Co., Ltd. will be in charge of developing the project.

The Punta Huete airport, located in the municipality of San Francisco Libre, was originally built during Nicaragua’s first Sandinista government (1979-1990) with the help of the former Soviet Union and Cuba. It was planned as a military base for landing Mig-21 aircraft, although these planes never arrived in Nicaragua.

Main source:

Nicaragua y China inauguran una ruta marítima comercial – MSN.

Other related sources:

Nicaragua y China inauguran ruta marítima comercial directa – France24.