CHINA / DIPLOMACY
China and Nicaragua sign free trade agreement, building a government level cooperation mechanism
Published: Jul 13, 2022 10:17 PM
This April 6, 2018 photo shows the Ministry of Commerce (MOC) in Beijing, capital of China. Photo: Xinhua
This April 6, 2018 photo shows the Ministry of Commerce (MOC) in Beijing, capital of China. Photo: Xinhua

 
China and Nicaragua signed a bilateral free trade agreement, China's Ministry of Commerce (MOFCOM) announced on its official website on Wednesday, demonstrating that the cooperation mechanism between both governments has been formally built. 

China's Minister of Commerce Wang Wentao signed a series documents with Nicaraguan Foreign Minister, Denis Moncada, and Laureano Ortega Murillo, adviser to Nicaragua's president, via video link on Tuesday. 

Trade between China and Nicaragua rose despite pressure in the first five months 2022, with Nicaragua's exports to China experiencing a year-on-year increase of 128.9 percent demonstrating the benefits for the two countries after resuming diplomatic relations on December 10, 2021, said Wang.

Nicaragua vowed to follow the one-China principle and boost bilateral relations. The Latin American country will enhance investment and trade with China to benefit the peoples both countries.

Global Times