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Nicaragua and China officially opened trade under the Free Trade Agreement, which allows Nicaragua to export about 71% of its products to China and enjoy tariff-free treatment. Exports include meat, seafood, sugar, peanuts and rum.
The agreement covers non-food items such as leather, charcoal, wood and auto parts. The agreement does not cover Chinese goods that have caused problems for Nicaragua’s major industries.
President Ortega said this was the “best Christmas gift” and emphasized the importance of cooperation. The trade agreement is believed to bring economic and social benefits, new investment and job opportunities.
(Source: inquirer Image source: freepik)
