LatinNews Daily - 15 December 2021

In brief: Nicaragua revokes trade agreement with Taiwan

* Nicaragua’s 92-member unicameral legislature has revoked the country’s 2006 free trade agreement (FTA) with Taiwan. The move follows Nicaragua’s decision announced last week to sever ties with Taipei and establish relations with mainland China. According to figures from Taiwan’s bureau of foreign trade (BOFT), a government body, bilateral trade totalled US$166m in 2020, of which Nicaragua’s exports amounted to US$143.5m. Nicaragua’s legislature also repealed seven other agreements covering Nicaragua’s relations with Taiwan including a US$20.2m loan signed with Taiwan’s export-import bank to finance an irrigation project, among other things.

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