On July 12, Wang Wentao, Minister of Commerce, and Nicaraguan Foreign Minister Denis Moncada, representing their respective government, signed the Early Harvest Arrangement for the Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Nicaragua via video link, and jointly announced the beginning of FTA negotiations between China and Nicaragua. Minister Wang Wentao and Laureano Ortega Murillo, adviser to Nicaragua's president, representing their respective government, signed the Memorandum of Understanding on the Establishment of a Mixed Commission on Economic, Trade and Investment Cooperation between the Government of the People's Republic of China and the Government of the Republic of Nicaragua via video link, officially establishing a bilateral intergovernmental mechanism on economic cooperation and trade.
Wang Wentao said that since the resumption of diplomatic relations between China and Nicaragua, under the personal commitment and guidance of the leaders of the two countries, the two sides have made joint efforts to efficiently promote bilateral economic cooperation and trade in various fields and achieved fruitful and pragmatic outcomes. From January to May this year, trade between China and Nicaragua continued to grow against the trend, with Nicaragua's export to China increasing by 128.9% year-on-year, fully demonstrating the dividend from the resumption of diplomatic relations. Signing the early harvest arrangement for the FTA and launching FTA negotiations between China and Nicaragua represent another important achievement of bilateral economic cooperation and trade since the resumption of diplomatic relations between China and Nicaragua, laying a solid foundation and adding impetus to the sustainable development of bilateral relations. The establishment of the China-Nicaragua Mixed Commission on Economic, Trade and Investment Cooperation has provided a platform for the communication and coordination of economic and trade affairs between the two governments, and helped the two countries further improve the quality and level of bilateral trade and strengthen investment and economic cooperation in various fields. China stands ready to take this opportunity to make joint efforts with Nicaragua to turn the complementary advantages of the two countries' economies into more concrete outcomes as soon as possible, and add more substance to China-Nicaragua economic cooperation and trade.
The Nicaraguan side said that Nicaragua strictly abides by the one-China principle and stands ready to continuously strengthen its bilateral relations with China. Since the resumption of diplomatic relations, the bilateral trade between China and Nicaragua has increased substantially, and economic cooperation has continued to deepen, which fully reflects the common political will of both sides. The signing of the early harvest arrangement for the FTA and launching FTA negotiations between China and Nicaragua will further leverage the economic complementarity between the two sides and push the mutually beneficial economic and trade cooperation between the two sides to a new level. The establishment of the China-Nicaragua Mixed Commission on Economic, Trade and Investment Cooperation will further promote investment and trade between the two countries, and help both sides to cooperate on an equal and mutually beneficial basis. Nicaragua is ready to work with China to promote the early implementation of relevant agreements and benefit the two peoples.
Li Fei, Assistant Minister of the Ministry of Commerce, Chen Xi, Chinese Ambassador to Nicaragua, Ivan Adolfo Acosta Montalvan, Minister of Finance and Public Credit of Nicaragua and José de Jesús Bermúdez Carvajal, Minister of Development, Industry, and Commerce attended the event.
