China's free trade agreement with Nicaragua came into force

On January 1, Nicaragua and China began to implement a free trade agreement where 71% of the Central American country's export products will have immediate access to the Asian giant's market with zero tariffs, the Nicaraguan government reported. “We are convinced that this will generate economic and social benefits for Nicaraguan families, new investments, the creation of more jobs, the transfer of technologies from China to Nicaragua,” said President Daniel Ortega's son on October 31, Laureano Ortega, after signing the agreement in a virtual meeting. Official media have published that Nicaragua will be able to immediately export meat, sugar, fish, shrimp, lobsters, sea cucumber, peanuts, rum, leather, charcoal and wood, car harnesses, among others, to the Chinese market. Nicaragua broke relations with Taiwan at the end of 2021 and immediately reestablished them with China. Since then, Chinese buses have arrived in the Central American country and stores selling Chinese products ...