On July 12, Minister of Commerce Wang Wentao and Minister of Foreign Affairs of Nicaragua Moncada, on behalf of the governments of the two countries, signed the "Arrangements for the Early Harvest of the Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Nicaragua" by video, jointly announcing the launch of the China- Negotiations on a comprehensive free trade agreement in Nicaragua; on behalf of the governments of the two countries, Laureano, the adviser to the President of Nigeria, 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 Commission for Economic, Trade and Investment Cooperation" by video, officially Establish a bilateral intergovernmental economic and trade cooperation mechanism.
Wang Wentao said that since the resumption of diplomatic relations between China and Nigeria, 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 Nigeria has grown against the trend. Among them, Nigeria’s exports to China have increased by 128.9% year-on-year, which fully demonstrates the dividends of the resumption of diplomatic relations. The signing of the "Early Harvest" arrangement of the China-Nigeria Free Trade Agreement and the launch of China-Nigeria 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 to the sustainable development of bilateral relations. The establishment of the China-Nigeria Economic and Trade Mixed 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 work together with Nigeria to transform the economic complementary advantages of the two countries into more concrete results as soon as possible, so as to promote the in-depth and solid economic and trade cooperation between China and Nigeria.
The Nigerian side stated 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, the bilateral trade between China and Nigeria has grown substantially, and economic cooperation has continued to deepen, which fully reflects the common political will of both sides. The signing of the "Early Harvest" arrangement and the launch of China-Nigeria Comprehensive Free Trade Agreement negotiations will further leverage the economic complementarity of the two sides and push the mutually beneficial economic and trade cooperation between the two sides to a new level. The establishment of the China-Nepal Economic and Trade Mixed Committee mechanism will further promote investment and trade between the two countries, and facilitate equal and mutually beneficial cooperation between the two sides. The Nigerian side is willing to work with the Chinese side to promote the early implementation of the relevant agreements, so as to benefit the two peoples.
Li Fei, Assistant Minister of Commerce, Chen Xi, Chinese Ambassador to Nigeria, Acosta, Minister of Finance of Nigeria, and Bermudez, Minister of Development, Industry and Trade attended the event.
