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Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
A free trade agreement (FTA) between China and Nicaragua will become effective on January 1, 2024, the Chinese Ministry of Commerce said on Friday.
Both countries have completed their domestic procedures for the deal to take effect, the ministry said in a press release. The deal was signed in August 2023.
About 60 percent of goods traded between the countries will be exempt from tariffs upon the FTA taking effect, and the tariffs on over 95 percent will gradually be reduced to zero.
The FTA marks China's first instance of opening cross-border service trade and investment through a negative list.
The Chinese Ministry of Commerce described the signing of the FTA as a milestone in China-Nicaragua economic ties, which will further unleash potential in trade and investment cooperation and benefit businesses and people in the two countries.
(Cover via CFP)