STORY: FTA with China to bring broad benefits: Nicaragua's trade minister
DATELINE: Sept. 3, 2023
LENGTH: 00:02:22
LOCATION: Mexico City
CATEGORY: POLITICS/ECONOMY

SHOTLIST:
1. various of Nicaragua
2. SOUNDBITE 1 (Spanish): JESUS BERMUDEZ, Nicaragua's Minister of Development, Industry and Trade
3. various of Nicaragua
4. SOUNDBITE 2 (Spanish): JESUS BERMUDEZ, Nicaragua's Minister of Development, Industry and Trade

STORYLINE:

Nicaragua's Minister of Development, Industry and Trade Jesus Bermudez has spoken highly of a free trade agreement (FTA) between his country and China.

The deal signed on Thursday after year-long negotiations will facilitate high-level mutual opening up in areas such as goods and services trade and investment access.

SOUNDBITE 1 (Spanish): JESUS BERMUDEZ, Nicaragua's Minister of Development, Industry and Trade
"China for us is a politically and economically reliable partner, with more than 1.4 billion consumers, with advanced technologies and important investment capital, so we expect great benefits from the FTA for both countries.
Well, we expect the benefits to be quite broad, from the point of view of exports, imports and investments. We hope, for example, that all our agricultural and fishing production will benefit. These industries could also benefit not only from exports, but also from the import of raw goods, raw materials, intermediate goods, machinery, and equipment at lower costs from China.
We also expect it to benefit our free trade zone industries, particularly the textile, apparel, and automotive harness industries.
Our consumers will also benefit from acquiring consumer goods at lower costs and with a much wider and more diversified offer. This is why the FTA was negotiated, so that broad economic sectors of both countries will benefit."

Following the signing of the FTA, the 21st of its kind for China, Nicaragua has now become China's 28th global free trade partner and fifth in Latin America.

SOUNDBITE 2 (Spanish): JESUS BERMUDEZ, Nicaragua's Minister of Development, Industry and Trade
"China is broadening its range of trade partners. I think that is very important for China and obviously China has very important principles that countries like Nicaragua, that countries like Honduras see as extremely attractive, for example, cooperation, respect for the sovereignty of states, sharing China's development, which is highly important with a view to the future. All these are, let's say, very important elements that countries take into account and they see the relationship with China a historic opportunity to develop."

Xinhua News Agency correspondents reporting from Mexico City.
(XHTV)