The first meeting of the China Nicaragua Free Trade Agreement Joint Committee was held

On March 30th, the first meeting of the China Nicaragua Free Trade Agreement Joint Committee was held in Beijing. Li Chenggang, International Trade Negotiator and Deputy Minister of Commerce of the Ministry of Commerce, and Ramirez, Minister of Development, Industry and Trade of Nicaragua, co chaired the meeting to exchange views and sign cooperation documents on promoting the development of bilateral economic and trade relations and the implementation of the China Nepal Free Trade Agreement.

Li Chenggang pointed out that since the resumption of diplomatic relations, China Nepal relations have achieved leapfrog development, and practical cooperation in various fields has yielded fruitful results. Under the strategic guidance of the two heads of state, both sides have signed and implemented early harvest arrangements for the China Nepal Free Trade Agreement and a comprehensive free trade agreement, further unleashing the dividends of resuming diplomatic relations. Driven by the free trade agreement, China Nepal trade has grown rapidly, and bilateral investment cooperation has steadily advanced, demonstrating strong resilience and vitality.

Li Chenggang stated that during the 15th Five Year Plan period, China will steadfastly expand high-level opening-up and share huge market opportunities with countries including Nicaragua. China is willing to work with Nepal to continue implementing the China Nepal Free Trade Agreement, expand more practical areas of cooperation, and promote bilateral economic and trade relations to a new level.

Ramirez stated that Nepal attaches great importance to developing relations with China, adheres to the One China principle, highly recognizes and firmly supports President Xi Jinping's concept of building a community with a shared future for mankind, and actively participates in the joint construction of the Belt and Road Initiative. Thanks to the free trade agreement, trade and investment between the two countries have grown rapidly. Nepal is willing to continuously enhance the effectiveness of the agreement implementation with China, further improve the level of trade and investment facilitation, tap into the potential of economic and trade cooperation, and continuously enrich the connotation of the strategic partnership between the two countries.

During the meeting, Li Chenggang and Ramirez jointly signed the Decision of the Joint Committee of the Government of the People's Republic of China and the Government of the Republic of Nicaragua on the Cancellation of Tariffs on Some Products in the Nicaragua Tariff Commitment Table.