Nicaragua Negotiating Lower Tariffs with China
The two countries are negotiating a special arrangement in which tariffs will be reduced.
Friday, December 17, 2010
That is reflected in the cooperation agreement signed between the World Business Council for Promoting Economic and Trade Relations with China (CEFECH) and the Association of Friends with the Peoples Republic of China (Pro-NicaChina).
Most of the products which Nicaragua exports to the USA will continue to enjoy, for at least 10 years, tariff advantages compared to those products sold within the Transpacific Association Agreement.
Honduras and Nicaragua will be the first countries to export to the European market under the preferential tariff agreed between the two regions.
Its entry into force, scheduled for October 2012, will mean a drop from 7% to 0% on the tariffs of 87% of U.S. products exported to the canal country.
Candy, plastics, juices and nectars, medicines and paper bags are included in the list of 214 Salvadoran products that will enter Ecuador under special tariff conditions.
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