General

On July 12, Minister of Commerce Wang Wentao and Minister of Foreign Affairs of Nicaragua Moncada, on behalf of the two governments, signed the "Arrangement between the Government of the People's Republic of China and the Government of the Republic of Nicaragua on the Early Harvest of Free Trade Agreements" by video, jointly announcing the launch of China- Nicaragua comprehensive free trade agreement negotiation; on behalf of the two governments, respectively, signed the "Memorandum of Understanding between the Government of the People's Republic of China and the Government of the Republic of Nicaragua on the establishment of a mixed committee for economic, trade and investment cooperation" with Laureano, the adviser to the President of Nicaragua, officially Establish a bilateral intergovernmental economic and trade cooperation mechanism.

Wang Wentao said that since the resumption of diplomatic relations between China and Nepal, under the personal care and guidance of the leaders of the two countries, the two sides have worked together to efficiently promote bilateral economic and trade cooperation in various fields and achieve fruitful and practical results. From January to May this year, the trade volume between China and Nepal grew against the trend, among which Nepal's exports to China increased by 128.9% year-on-year, which fully demonstrated the dividends of the resumption of diplomatic relations. The signing of the "Early Harvest" arrangement of the China-Nepal Free Trade Agreement and the launch of the China-Nepal Comprehensive Free Trade Agreement negotiations are another important achievement of bilateral economic and trade cooperation since the resumption of diplomatic relations, laying a solid foundation and adding impetus for the sustainable development of bilateral relations. The establishment of the Sino-Nepalese economic and trade joint committee mechanism provides a platform for the communication and coordination of economic and trade affairs between the two governments, and provides assistance for the two countries to further improve the quality and level of bilateral trade, and strengthen investment and economic cooperation in various fields. China is willing to take this opportunity to make joint efforts with Nepal to transform the economic complementary advantages of the two countries into more concrete results as soon as possible, so as to promote China-Nepalese economic and trade cooperation to deepen and solidify.

The Nigerian side said that Nicaragua abides by the one-China principle and is willing to continue to strengthen bilateral relations with China. Since the resumption of diplomatic relations, bilateral trade between China and Nepal has grown substantially and economic cooperation has been deepened, which fully reflects the common political will of both sides. The signing of the "Early Harvest" arrangement and the launch of the China-Nepal comprehensive free trade agreement negotiation will further leverage the economic complementarity of the two sides and promote the mutually beneficial economic and trade cooperation between the two sides to a new level. The establishment of the Sino-Nepalese economic and trade joint committee mechanism will further promote the investment and trade between the two countries and help the two sides cooperate on an equal footing and mutual benefit. The Nigerian side is willing to work with the Chinese side to push for the early implementation of the relevant agreements to benefit the two peoples.

Assistant Minister of Commerce Li Fei, Chinese Ambassador to Nepal Chen Xi, Nigerian Minister of Finance Acosta, Minister of Development, Industry and Trade Bermudez attended the event.