On August 31, Minister of Commerce Wang Wentao and Nicaraguan President on Investment, Trade and International Cooperation and Coordinator for Cooperation with China Laureano Ortega Murillo, signed the Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Nicaragua via video links in Beijing and Managua, on behalf of the Chinese and Nicaraguan governments. The event was joined by Wang Shouwen, China International Trade Representative and Vice Minister of Commerce, Jesus Bermudez, Minister of Development, Industry, and Trade of Nicaragua, and Acosta, Minister of Finance and Public Credit of Nicaragua.

The negotiation and signing of the China-Nicaragua FTA is an important step to implement the consensus of the leaders of the two countries. After launching the negotiations in July 2022, the working teams engaged in intensive consultations, pushed forward the negotiations swiftly and against high standards, and concluded the negotiations within one year. With the FTA, the two countries can enhance mutual openness in trade in goods, trade in services and investment market access. The provisions of the text fully reflect that it is a modern, high-standard, and inclusive FTA.

The signing of the FTA is a milestone in the history of China-Nicaragua economic and trade relations. It will help to release the dividends of the resumption of diplomatic relations between the two countries, unlock the potential in bilateral trade and investment cooperation, and elevate bilateral economic and trade cooperation to a new level, benefiting people of the two countries.

After the signing of the agreement, the two sides will go through their domestic procedures toward the early entry into force and implementation of the agreement.