On February 11, Minister Wang Wentao met with Laureano Ortega, advisor on investment, trade and international cooperation to Nicaraguan president and exchanged views on implementing consensuses of the two heads of state and deepening practical cooperation on trade and economic cooperation between the two countries.

Wang Wentao said that with the personal care and guidance of the two heads of state, fruitful results have been achieved in bilateral trade and economic cooperation since the two countries resumed diplomatic ties. In 2022, the two sides established an intergovernmental cooperation mechanism on economy and trade, signed an early harvest arrangement for the free trade agreement, and initiated comprehensive FTA negotiations. Nicaragua made its debut at the 5th China International Import Expo, which greatly enhanced the popularity of its premium products in China. China's imports from Nicaragua increased by 43.7% year-on-year, fully demonstrating the benefits of resuming relations.

Wang Wentao stressed that the Chinese path to modernization put forward at the 20th National Congress of the Communist Party of China will bring huge market opportunities to Nicaragua. This year marks the 10th anniversary of the Belt and Road Initiative proposed by President Xi Jinping. MOFCOM stands ready to work with the Nicaraguan side to promote high-quality development of the Belt and Road Initiative and the FTA negotiations and signing. This will turn our complementary strength into a driving force for comprehensive cooperation, and bring bilateral trade and economic relations to new heights.

Laureano said that under the guidance of the two heads of state, the resumption of diplomatic ties between Nicaragua and China has achieved fruitful outcomes. Nicaragua highly values the FTA negotiations, and hopes that the two sides will step up efforts to implement the early harvest arrangement for the FTA as soon as possible and reach a high-quality comprehensive agreement at an early date. Nicaragua is ready to work with China to actively implement the consensuses of the two heads of state, continuously improve bilateral trade and economic cooperation, and jointly build a human community with a shared future. Nicaragua stands ready to actively participate in exhibitions hosted by China such as the China International Import Expo to further expand bilateral imports and exports. Chinese enterprises are welcome to invest in Nicaragua and the Nicaraguan side is ready to provide a better business environment for Chinese investors. Nicaragua values the mechanism of the mixed commission on economic, trade and investment cooperation established by the two sides and will continue to give better play to its role in promoting trade and investment cooperation between the two countries.

After the meeting, a memorandum of understanding on establishing a working group of trade facilitation between the Ministry of Commerce of the People’s Republic of China and the Ministry of Development, Industry and Trade of the Republic of Nicaragua was signed by Minister Wang Wentao and Jesus Bermudez, Minister of Development, Industry and Trade of Nicaragua.

(All information published on this website is authentic in Chinese. English is provided for reference only.)