The Minister of Production and Foreign Trade, Julio José Prado, awaits a response from Mexico to return to the negotiating table for a Free Trade Agreement (FTA).
Prado said that the long-awaited path to the Pacific Alliance will be opened, after Ecuador’s return to the ICSID mechanism (International Center for Settlement of Investment Disputes).
The minister indicated that he awaits a response from his Mexican counterpart to define when they will re-install the negotiating table that benefits both countries.
The Secretary of State knows that negotiations with that country are key to the incorporation of Ecuador to the Pacific Alliance.
Prado highlighted that one of the obstacles that existed was related to the protection of investments, but that issue was already resolved with the reincorporation of Ecuador to ICSID, which aims to help in the settlement of differences between investors and States, in the majority of cases. cases, on international treaties.
Our country entered this mechanism in 1986, but it left in 2010, in order for disputes to be processed in the Ecuadorian courts, something that was not to the liking of investors.
According to the official, this issue was a “stumbling block”, but once it has been overcome, it is expected to negotiate again “within the next few weeks, no later than months,” since it is something that was the subject of dialogue between Presidents Manuel López Obrador and Guillermo Lasso.
The agreement with Mexico will allow Lasso to comply with its policy of “more Ecuador in the world, and more world in Ecuador.”
“The route we have to follow to open Ecuador to the world (begins with) Mexico and, once closed with them, the Pacific Alliance. Mexico is a stepping stone towards the Alliance, but it is also very important in itself to get there without tariffs and because it is the main private investor in Ecuador, ”he exclaimed.
The official explained that there are 11 negotiating tables missing that have to do with market access (the entire issue of tariffs), intellectual property, financial issues, investments and other types such as rules of origin.
The “sensitivities” of each country to the entry of products are also to be resolved, since Ecuador wants to enter with shrimp, bananas, coffee and cocoa. Sectors in which that country has some sensitivities.
Meanwhile, our nation has sensitivities in metalworking, automotive, and white goods.
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