Nicaragua : Nicaragua & Taiwan draw closer ties

Trade between Nicaragua and Taiwan has already crossed the US $50 million mark and knitwear, textiles feature among major export items from Taiwan to Nicaragua.
It got further fillip with Taiwanese President Chen Shu-bian paying a visit to Nicaragua that came to a close on Sunday, last. He announced a US$1.1 million worth financial package that will not only strengthen ties between the two countries but also alleviate poverty in that country.
Taiwanese investment had earlier gone in setting up textile factories providing much wanted employment to Nicaraguans.
Nicaragua and Taiwan already have a Free Trade Agreement in place since last year, and the presidential visit will further boost the trade ties between the two countries.
While terming CAFTA Agreement with the US as ‘unfair and fraud’ President Daniel Ortega Saavedra expressed hope that more Taiwanese investment will come to his country and help solve the country’s economical problems.