As agreed by China and Nicaragua, 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 the Free Trade Agreement" (hereinafter referred to as "Early Harvest") will come into effect on May 1, 2023.
In order to fulfill the relevant commitments of the "Early Harvest" tariff reduction, the Customs Tariff Commission of the State Council of China issued an announcement on the 24th that from May 1, 2023, some imported goods originating in Nicaragua will implement the "Early Harvest" agreed tariff rate. The effective implementation of the "Early Harvest" will further leverage the economic complementarity between China and Nepal, and promote the mutually beneficial economic and trade cooperation between the two countries to a new level.
According to the "Agreement Tax Rate Table for the Implementation of the Early Harvest Arrangement of the Free Trade Agreement on Nicaragua in 2023" published by the Customs Tariff Commission of the State Council, 60 commodities such as fresh or cold whole and half cows, frozen sea cucumbers, and cotton casual suits for men The treaty tax rate is zero.