Since the resumption of diplomatic relations between China and Nicaragua in December last year, under the personal commitment and guidance of the leaders of the two countries, the two sides have made joint efforts to efficiently promote bilateral economic cooperation and trade in various fields and achieved fruitful and pragmatic outcomes. From January to May this year, trade between China and Nicaragua continued to grow, with Nicaragua's export to China increasing by 128.9% year-on-year, fully demonstrating the dividend of the resumption of diplomatic relations. On July 12, Wang Wentao, Minister of Commerce, and Nicaraguan Foreign Minister Denis Moncada, representing their respective government, signed the Early Harvest Arrangement for the Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Nicaragua via video link, another important achievement of bilateral economic cooperation and trade since the resumption of diplomatic relations between China and Nicaragua. The early harvest arrangement mainly covers tariff concession of trade in goods, among others. After the arrangement comes into effect, China and Nicaragua will offer zero tariff on some products originated in the other side, which will benefit the people and companies of the two countries at an early date.

While signing the early harvest arrangement, Minister Wang Wentao and Minister Denis Moncada also announced the beginning of FTA negotiations between China and Nicaragua and stated that they would strive to complete the process as soon as possible. China and Nicaragua have strong economic complementarities and great potential for trade and investment cooperation. The signing of FTA between China and Nicaragua is conducive to further deepening economic cooperation and trade between the two countries, creating a new vista in economic relations and trade between China and Nicaragua, and laying a solid foundation and adding impetus to the sustainable development of bilateral relations.

In the next step, China stands ready to work with Nicaragua to complete their respective domestic legal procedures and other follow-up work at an early date, and promote the implementation of the early harvest arrangement as soon as possible, so that the two countries and their peoples get to benefit from them at an early date. Taking the opportunity of the negotiations and signing of FTA between China and Nicaragua, we will make every effort to elevate China-Nicaragua economic cooperation and trade to a new level. Thank you.