On March 30, the (first) meeting of the China-Nicaragua Free Trade Agreement Joint Committee was held in Beijing. Li Chenggang, International Trade Negotiator and Vice Minister 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 achieved fruitful results. Under the strategic guidance of the two heads of state, the two sides successively signed and implemented the China-Nepal Free Trade Agreement Early Harvest Arrangements and the Comprehensive Free Trade Agreement, further releasing the dividends of resumption of diplomatic relations. Driven by the free trade agreement, China-Nepal trade has grown rapidly, and bilateral investment cooperation has steadily advanced, showing strong resilience and vitality.

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

Ramirez said that Nigeria attaches great importance to developing relations with China, abides by 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 has grown rapidly. Nigeria is willing to work with China to continue to improve the implementation efficiency of the agreement, further improve the level of trade and investment facilitation, tap 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 on the Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Nicaragua on the Elimination of Tariffs on Certain Products of Nicaragua's Tariff Commitment Schedule."

Source: Business Micro News

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