Managua, Feb 22 (Prensa Latina) Nicaragua and China are currently making progress in the establishment of political consultation mechanisms, the joint construction of the Belt and Road initiative, the exchange in multilateral scenarios and the expansion of market access.

The agreements between the two countries include the signing of a Free Trade Agreement, as well as the increase of imports and exports, the search for new trade destinations and the attraction of foreign investors to the Central American nation.

According to Nicaragua’s Minister of Finance and Public Credit Ivan Acosta, the mixed commission, composed of representatives of Managua and Beijing, is working on the implementation of the agreements already signed and the promotion of a housing construction program with Chinese capital.

He also mentioned a non-reimbursable cooperation project to strengthen the bovine sector and the interest by the Sandinista National Liberation Front (FSLN)’s executive to boost a more dynamic commercial exchange with China.

Acosta highlighted some areas for the implementation of works with external financing, among them, setting up companies in free trade zones and recalled that the National Plan to Fight against Poverty contains an underwriting strategy of economic alliances.

According to the official, Nicaragua was the first Central American country in restoring relations with China in December 1985.