On January 1, 2024, the China-Nicaragua Freedom Agreement officially entered into force. The agreement, signed on August 31, 2023, is a milestone in the development of China-Nepal bilateral economic and trade relations, which is conducive to further stimulating the potential of bilateral investment cooperation, promoting the quality and upgrading of cooperation, and better benefiting the enterprises and people of the two countries. In an exclusive interview with a reporter from the main station, a number of Nicaraguan *** said that they are full of expectations for the entry into force of the free trade agreement to promote cooperation between the two countries.
Laureano Ortega, Investment and International Cooperation Consultant, Nicaragua: We want to be able to present better Nicaraguan products to the Chinese market, and we also believe that China has great potential as an importer of Nicaragua.
Jesús Bermúdez, Minister of Development and Industry of Nicaragua: I hope that the entry into force of the free trade agreement between China and Nicaragua can continue to deepen the investment between the two countries and truly achieve mutual benefit.
Iván Acosta, Minister of Finance and Public Credit of Nicaragua: The FTA signed with China is a qualitative leap forward for our country, a great opportunity and an opening up. China has opened its doors to us, and we believe that access to this huge market will allow us to grow rapidly.
According to the China-Nepal FTA arrangement, the two sides will achieve a high level of mutual openness in the fields of goods, services, and investment market access. In terms of goods**, the two sides will eventually implement zero tariffs on products exceeding 95% of their respective tariff items. In terms of services, this agreement is China's first free trade agreement to open up cross-border services** and investment in the form of a negative list.
*: CCTV news client.