73.6 F
New York
Thursday, July 18, 2024
HomeIndustriesFinanceChina and Nicaragua Forge Deeper Ties, Defying Western Sanctions

China and Nicaragua Forge Deeper Ties, Defying Western Sanctions


Related stories

Meet Donna Dahl: A Visionary Leader Transforming Executive Empowerment

“Challengers invite us to explore possibilities and hold us...

Faris AlHajri, President of Haqua Wellness: Leading a Holistic Health Revolution with Haquapathy

Edition: “Leading Visionary in Holistic Healthcare 2024” Faris AlHajri, Ph.D....

Not Just Statistics: Why We Need to Overcome Youth Unemployment in Nigeria

Nigeria's youth represents both a formidable promise and a...

News Highlights

  • Bilateral relations strengthened, Free Trade Agreement effective Jan. 1, signaling economic collaboration.
  • Chinese President commits to solidarity and cooperation, hails new start in China-Nicaragua relations.
  • Facing Western sanctions, Nicaragua secures vital support from China; strategic partnership solidified.

In a bold diplomatic move, China and Nicaragua have elevated their bilateral relations to a strategic partnership, marking a significant geopolitical shift in Central America. The strengthened ties come as Nicaragua seeks economic support amidst Western sanctions, providing China with an opportunity to advance its strategic interests in the region.

Chinese President Xi Jinping, in a call marking the second anniversary of the resumption of diplomatic ties, expressed his commitment to Nicaraguan President Daniel Ortega, stating, “I am willing to work with President Ortega to take today’s announcement of a China-Nicaragua strategic partnership as a new start.” President Xi emphasized building a model of solidarity, cooperation, and mutual benefit between the two nations.

The China-Nicaragua Free Trade Agreement is set to take effect on January 1, further solidifying economic collaboration. As the world’s second-largest economy, China’s increased investment in Central and Latin America positions it as a crucial financial partner for Nicaragua, especially in the face of mounting economic pressure from the United States and other Western nations.

President Xi reaffirmed China’s support for Nicaragua in international affairs, stating, “China is also willing to strengthen its solidarity and cooperation with Nicaragua in opposing hegemony and power politics.” This statement comes at a time when Nicaragua faces sanctions from Canada, the United Kingdom, European states, and a damning report from the United Nations Human Rights Council, citing widespread human rights violations.

In response to Nicaragua’s political agenda, China’s foreign ministry issued a statement firmly supporting Nicaragua’s domestic policies. “China firmly supports Nicaragua in steadily moving forward with its domestic political agenda and resolutely opposes interference in Nicaragua’s internal affairs by external forces,” the statement read.

Nicaragua, in turn, reiterated its commitment to the strategic partnership with China and affirmed it would not engage in any official exchange with Taiwan. This decision drew criticism from Taiwan’s Foreign Ministry, which accused President Ortega of betraying democratic values for personal gain.

Nicaragua’s strategic importance, particularly in its proximity to the United States, underscores China’s broader diplomatic engagement in the Americas. Recent developments include the establishment of ties with neighboring Honduras and support offered to diplomatically isolated countries like Cuba and Venezuela.

As Nicaragua turns to China for economic support amidst international isolation, the diplomatic landscape in the Americas witnesses a notable realignment, with China solidifying its influence in the region despite Western sanctions and criticism.

Maya Patel
Maya Patelhttps://twitter.com/Patel_Maya2009
Maya Patel, an accomplished industries writer at CEO Scoop Magazine, explores the dynamic world of various sectors. With a background in business journalism and a knack for in-depth research, Maya sheds light on the latest trends and innovations within industries. Her articles provide CEOs and industry leaders with valuable insights to navigate the challenges and opportunities that define the modern business landscape.


Join us and stay informed about the latest happenings in the business world.

Latest stories