Following the exchange of notes of ratification, the Free Trade Agreement between the two nations will become effective on 19 October 2012.

A press release from the Foreign Ministry of Nicaragua reads:

An exchange of letters on the bilateral Nicaragua-Chile protocol, a Free Trade Agreement between Chile and Central America, was held this morning between the foreign minister, Samuel Santos López and the Chilean Ambassador in Spain, Mr Hernan Mena Taboada.

This exchange marked the completion of the terms and general procedures for a significant change in economic and trade relations between the two countries. The bilateral protocol will enter into force on 19 October this year.

Both the Chancellor and Ambassador Santos Lopez Mena Taboada, expressed the interest of both governments in further strengthening the bonds of friendship and solidarity that has characterized their relations.

Following the ratification of the bilateral protocol, it was reported by the Chilean Ambassador that a Nicaraguan-Chilean Chamber of Industry, Commerce and Tourism will be created.