Nicaragua intends to sign a Free Trade Agreement with China by 2023

Photo: President of Taiwan Tsai and President Ortega engage in a bilateral talk. (Ing-Jie Project: President Tsai visits Nicaragua, 2017/01/10)(cropped). By: Office of the President, Republic of China (Taiwan) | Government Website Open Information Announcement. Source: Flickr

Six months after the reestablishment of diplomatic relations between Nicaragua and China, Jesús Bermúdez, Nicaraguan Minister of Development, Industry and Commerce, announced that the two countries already have a proposal for a legal framework to negotiate a Free Trade Agreement (FTA). According to the official, Daniel Ortega, President of Nicaragua, is expected to sign the FTA by 2023 at the latest.

Meanwhile, Bermúdez informed that both nations are about to sign an economic agreement called “Early Harvest Agreement”, which would be the prelude to the FTA, and expected to enter into force in the next six months. The “Early Harvest Agreement” includes 90% of the products exported to Taiwan, and will have a 0% tariff rate for China.

Main headline:

Swissinfo (media part-owned by the SRG SSR; Schweizerische Radio- und Fernsehgesellschaft): Nicaragua prevé firmar un TLC con China a más tardar en 2023.

Find out more:

Artículo 66: Ortega pretende firmar con China un tratado comercial para el 2023.