LatinNews Daily - 2 August 2024

*Nicaragua’s government led by President Daniel Ortega has announced the inauguration of a direct maritime trade route between Nicaragua and China, following the arrival of cargo ship Sunny Fortune at Nicaragua’s Corinto port, Chinandega department which had set off from China’s Tianjin port. The presidential couple’s son, Laureano Ortega, a presidential adviser on investment, said that this would be the first of three vessels that would be using the route. The ship is carrying the first equipment and machinery to be used in the construction of the new Punta Huete (Panchito) airport in Managua which is being built by Chinese firm, China CAMC Engineering (CAMCE), as part of the ‘Belt and Road Initiative’ (BRI), China’s flagship global infrastructure investment initiative. Also attending the ceremony yesterday were Nicaragua’s transport and finance ministers, Retired Gen. Óscar Mojica and Bruno Gallardo respectively and China’s ambassador to Nicaragua, Chen Xi, among others. This is the latest sign of strengthening bilateral relations, following the inking in Beijing by both countries last month of various agreements to enhance bilateral cooperation. The two countries established bilateral relations in December 2021 after the Ortega government severed ties with Taiwan.