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Since President Lasso's official visit to Beijing in February 2022, four rounds of negotiations on the FTA have been held with the Chinese government, finalizing the agreement and roadmap
, according to Ecuador's Ministry of Production, Foreign Trade, Investment and Fisheries.
, according to Ecuador's Ministry of Production, Foreign Trade, Investment and Fisheries.
After the entry into force of the China-Ecuador FTAA, up to 99% of Ecuador's current exports to China will enjoy preferential access, mainly agricultural and agro-industrial products such as shrimp, bananas, roses and flowers, cocoa, coffee, etc.
, as well as non-traditional Ecuadorian agricultural and agro-industrial products
such as dragon fruit, pineapple, mango, blueberry, quinoa, processed foods, fresh and canned fruits.
, as well as non-traditional Ecuadorian agricultural and agro-industrial products
such as dragon fruit, pineapple, mango, blueberry, quinoa, processed foods, fresh and canned fruits.
The ministry also said that the trade agreement with China protects Ecuador's agricultural and industrial sector through long-term tax deductions and exclusions on the one hand, and reduces the production costs of Ecuadorian industry through duty-free access to raw materials, tools, equipment on the other, and will provide Ecuadorian consumers with more variety and high-quality products
.
.
On February 10 last year, at a regular press conference held by China's Ministry of Commerce, spokesman Gao Feng introduced that China and Ecuador have officially launched negotiations
on a free trade agreement.
In 2021, bilateral trade volume bucked the trend and increased by 44.
6% to US$10.
94 billion, with China continuing to maintain its second largest trade partnership
with Ecuador.
Ecuador is also an important investment and contracting partner of China in Latin America, covering many fields
such as electric power, energy and mining, and transportation.
According to the news released on the website of the Department of International Cooperation of the General Administration of Customs of China on December 12, 2022, on December 1 and 7, 2022, China Customs sent personnel to participate in the China-Ecuador Free Trade Agreement negotiation meeting, and the two sides conducted comprehensive and in-depth consultations on customs procedures and trade facilitation issues and made positive progress
.
on a free trade agreement.
In 2021, bilateral trade volume bucked the trend and increased by 44.
6% to US$10.
94 billion, with China continuing to maintain its second largest trade partnership
with Ecuador.
Ecuador is also an important investment and contracting partner of China in Latin America, covering many fields
such as electric power, energy and mining, and transportation.
According to the news released on the website of the Department of International Cooperation of the General Administration of Customs of China on December 12, 2022, on December 1 and 7, 2022, China Customs sent personnel to participate in the China-Ecuador Free Trade Agreement negotiation meeting, and the two sides conducted comprehensive and in-depth consultations on customs procedures and trade facilitation issues and made positive progress
.
