China and Nicaragua Free Trade Agreement will officially take effect on the day after tomorrow.
The Chinese Ministry of Commerce announced the above news on the official website on Friday (December 29).
According to the announcement, the Government of the People's Republic of China and the Government of the Republic of Nicaragua (hereinafter referred to as the Agreement) will officially take effect on January 1, 2024.
The agreement was signed on August 31, 2023, and the industries of the China -Niqi parties have completed the effective procedure.According to the agreement arrangement, the two parties will achieve high -level mutual opening in the areas of goods trade, service trade and investment market access.
In terms of cargo trade, the two parties will finally implement zero tariffs on their respective products of more than 95%of their taxes.Among them, the proportion of zero tariff products immediately accounted for about 60%of their overall tax.
In terms of service trade, the agreement is China's first free trade agreement to open cross -border service trade and investment in a negative list.In addition, the agreement also encourages both parties to carry out economic and technological cooperation in the fields of agriculture, textile, logistics, tourism, and small and medium -sized enterprises.
Agreement is a milestone in the development of bilateral economic and trade relations between China and Ni, which is conducive to further stimulating the potential of bilateral trade investment cooperation, promoting cooperation and upgrading, and better benefiting enterprises and people between the two countries.
Two years after China and Nicaragua resumed diplomatic relations, the heads of state of the two countries announced on December 20 to officially establish a strategic partnership.Chinese President Xi Jinping pointed out when the President Ortaga of Nicagian Ortega called that the Sino -Nigeria Free Trade Agreement will officially take effect on January 1 next year. "Both parties should take this as an opportunity to continuously improve the scale and level of bilateral trade."
After China and Nicaragua promoted bilateral relations into strategic partnership, the two countries immediately signed a loan agreement of $ 430 million (about 568 million yuan) to fund Nicaragua's international airport and liquefied natural gas receiving stationproject.
