* Nicaragua’s minister for development, business, and industry (Mific), Jesús Bermúdez, has said that an early harvest deal with mainland China, part of a free trade deal (FTA) which the two countries are currently negotiating, has entered effect. The early harvest deal was approved in September last year by Nicaragua’s legislature. Bermúdez said that it took effect on 1 May in relation to Nicaragua’s main exports and that the two sides had the goal of concluding an FTA this August. He said that there are 22 chapters of the deal and that in July a Chinese delegation would visit Nicaragua to finalise the details. He added that he hopes that China, with which Managua established ties in December 2021 after severing relations with Taiwan, would become Nicaragua’s main investor in the medium and long term. Bermúdez said that in May, since the early harvest deal had taken effect, Nicaragua’s exports to China increased more than 46% – from US$1.1m to US$1.7m.
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LatinNews Daily - 26 May 2023
In brief: Nicaragua claims progress in FTA talks with China
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