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The FTA between the two countries is expected to be signed
in March 2023.
Last week, Ecuadorian President Guillermo Lasso said the free trade agreement between the two countries would give most Ecuadorian goods tariff relief to enter the Chinese market, which would boost the Latin American
country's export trade.
country's export trade.
However, under the new agreement, tariff reductions on white shrimp will not take effect immediately, and tuna exports will not receive special treatment
.
Shrimp products account for 70% of Ecuador's non-oil commodity exports to China, and China imposes a 2% provisional tax
rate on imports of frozen South American white shrimp.
.
Shrimp products account for 70% of Ecuador's non-oil commodity exports to China, and China imposes a 2% provisional tax
rate on imports of frozen South American white shrimp.
According to Julio Jose Prado, Ecuador's Minister of Production, at least 60% of Errata goods entering the Chinese market will enjoy zero tariffs after the FTA comes into force, but at the request of Ecuador's domestic industry, tuna is the only commodity that should not be included in the FTA, because the industry is worried that Chinese fishery products may flood into the local market, bringing many risks
to domestic production.
to domestic production.
Dario Chemerinski, commercial director at Latin American company Selecting Strategic Partners, said: "The FTA is good news for all industries, except shrimp and tuna
.
I don't think the tariff exclusion option of China's trade agreement will benefit Ecuador's tuna industry
.
”
.
I don't think the tariff exclusion option of China's trade agreement will benefit Ecuador's tuna industry
.
”
"By the way, at the recent Infofish 2022 tuna conference in Bangkok, we often heard that free trade agreements will have a positive effect
on the global tuna industry.
We also heard from Andres Arens Hidalg, Deputy Minister of Ecuador, who mentioned that Ecuador is facing a challenging post-pandemic 'disruptive' market environment
.
An interesting question remains: If the industry really faces a disruptive environment, why should tuna be excluded from the Ecuador-China free trade agreement? Chemerinski said
.
on the global tuna industry.
We also heard from Andres Arens Hidalg, Deputy Minister of Ecuador, who mentioned that Ecuador is facing a challenging post-pandemic 'disruptive' market environment
.
An interesting question remains: If the industry really faces a disruptive environment, why should tuna be excluded from the Ecuador-China free trade agreement? Chemerinski said
.
