Nicaragua”s National Assembly ratified here the Partial Reach Agreement with Cuba, which aims to strengthen business relations and extend tariff preferences to boost bilateral trade, the parliamentary website published Wednesday.
As reported by the Assembly, the Partial Reach Agreement contains 28 articles contained in 15 chapters on preferential tariff treatment on internal taxation, sanitary and phytosanitary measures, trade cooperation and evaluation of the agreement.
Speaking to local digital newspaper 19 Digital, Deputy Jacinto Suarez said this is the first agreement that Nicaragua signs, having the use of the Unified System for Regional Compensation (Sucre) as a reference.
Suarez added that the agreement between both nations, approved with 81 votes, is not a common one, since it has principles of complementarity and solidarity, he said.
