Nicaragua Signed a Free Trade Agreement with Chile

2011-03-01

After 12 years of discussions and negotiations, Nicaragua finally signed a free trade agreement with Chile on February 22, 2011. Both parties, represented by the Nicaraguan Minister of Foreign Affairs, Mr. Santos, and the Ambassador of Chile in Nicaragua, signed the agreement at the Ministry of Foreign Affairs in Nicaragua, and Mr. Solorzano, the Nicaraguan Minister of Commerce and Industry, was also present at the signing ceremony. According to the agreement, 96% of the Nicaraguan exported goods are free of duty to Chile; while 67% of the Chilean exported goods are duty free to Nicaragua. Gold and scrap metal are excluded from the agreement.