The National Assembly of Nicaragua will be approving the Nicaragua Cooperation with China through the “Framework Agreement for Cooperation” with the People’s Republic of China.
The plenary session of the national Assembly submitted the document called the “Framework Agreement for Cooperation between the Governments of the Republic of Nicaragua and the People’s Republic of China” to the Foreign Affairs Committee.
The document reflects the joint statements issued by both countries last December 9th 2021 when they agreed to reestablish diplomatic relations and strengthen relations of friendship, solidarity and cooperation between both nations.
The Framework Agreement for Cooperation includes;
- A Memorandum of Understanding between the Government of the People’s Republic of China and the Government of Nicaragua on cooperation within the framework of the economic belt of the the 21st century.
- An agreement between the Government of the People’s Republic of China and the Government of the Republic of Nicaragua on the mutual exemption of visas for holders of diplomatic passports, service passports and public or official affairs passports.
- A Memorandum of Understanding between the Ministry of Foreign Affairs of the People’s Republic of China and the Ministry of Foreign Affairs of the Government of the Republic of Nicaragua on the establishment of the mechanism for political consultation.
This framework agreement seeks to deepen relations between both peoples and governments in diplomatic, economic, trade, investment, education, science, technology, health, culture, media, tourism, youth and sports sectors in accordance with the current laws and regulations of both countries.
The agreement also includes ten points or articles to strengthen relations between the two nations.
- Establish mechanisms for political consultation.
- Establish together the joint construction of the economic aspects of the Belt and Road.
- Cooperation and exchange in multilateral scenarios.
- Promote, energize and diversify its commercial relations within the confines of the international trading system.
- Actively explore trade facilitation and sign a Free Trade Agreement when appropriate.
- Deliberate on the establishment of mechanisms such as the mixed, commercial economic commission to guide economic and commercial cooperation with a joint vision.
- Actively develop exchange and cooperation in development planning within the framework of the Belt and Road.
- Sign visa facilitation arrangements for holders of diplomatic passports, official passports, service passports and public affairs passports in order to promote the exchange of personnel.
- Promote the creation of joint investment companies.
- Exchange visits between its economic, commercial and technological delegates from the public and private sectors.
