Economy & Business - October 2022

NICARAGUA | Legislature moves on trade deal with China. On 8 September Nicaragua’s 92-member unicameral legislature approved an early harvest deal with mainland China, part of a free trade agreement (FTA) which the two countries are currently negotiating. According to official state-owned media in Nicaragua, the agreement will permit the country to sell leading exports like beef, shellfish, and coffee. Back in June, when first announcing that the two countries had outlined a trade deal, Nicaragua’s minister for development, business and industry (Mific), Jesús Bermúdez, said that the framework for negotiations had already been established and he hoped that the FTA would be finalised within a year and a half. The FTA will cover key areas of trade policy such as intellectual property rights, environmental standards, and phytosanitary measures. This is the latest sign of cooperation between the two countries which formally established ties at the end of last year after Nicaragua severed relations with Taiwan.

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