639x360_1418179983_RODRIGO MALMIERCA EFETODAY NICARAGUA – The agreement that allows Nicaraguan products such as food and construction materials to enter the island with tariff preferences up to 100% has come into effect.

The Ministry of Foreign Trade and the Ministry of Finance and Prices in Cuba has approved the entry into force of the trade agreement signed in March, in which tariff preferences of different grades are established on products such as food, construction materials, accessories and utensils.

Elnuevodiario.com.ni reports that “… The tariff preferences are being extended to a number of products, including food, building materials, accessories and utensils. Up to 100% tariff preference are permitted on products that meet the standards and requirements, but it is not specified what is included in the list … In other cases the preferences are set in a range from 30 to 80%. ”

“… The annual trade between the two countries has exceeded $2 million in recent times, in contrast to their good political relations. ”

Source: elnuevodiario.com.ni