The Parliament of Nicaragua has unanimously approved the Legislative Decree of Approval of the Free Trade Agreement (FTA) between the Government of the People’s Republic of China and the Government of the Republic of Nicaragua.
The Vice President of Nicaragua, Rosario Murillo, highlighted the unanimous vote of the Nicaraguan parliament in support of the Free Trade Agreement between China and Nicaragua, highlighting this act as “a recognition of the sovereignty and determination of both peoples”.
«The National Assembly (Parliament) has approved today the China-Nicaragua FTA for the development of investment, for economic growth, for fair commercial exchange, solidarity, respectful, fair and equitable cooperation,» Murillo emphasized.
The treaty seeks to promote investment, economic growth and a fair and equitable commercial exchange between both nations, representing a significant advance for the Nicaraguan economy, by accessing the market of the Asian giant, with more than 1.4 billion consumers, doubling the commercial exchange of Nicaragua at a global level.
In this sense, the historic approval of the FTA with China opens new opportunities for micro, small and medium-sized businesses in Nicaragua, promoting economic development in different regions of the country, from the Pacific to the Caribbean Coast.
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The agreement between China and Nicaragua reflects the will of both peoples and governments to achieve equitable socioeconomic development, respecting the sovereign principles of both nations.