On Wednesday, Ecuador’s Production, Trade, and Investments Minister Julio Jose Prado announced that the administration of President Guillermo Lasso seeks to achieve a free trade agreement (FTA) with China this year.
In a video message recorded for the 15th China-Latin America Business Summit (China-LAC) taking place in Beijing, Prado confirmed that negotiations for the China-Ecuador FTA are expected to conclude shortly before December, when a bilateral summit will be held in Guayaquil City.
If these negotiations end as expected, Ecuador would become the fourth Latin American country to endorse a trade agreement with China, after Chile, Peru, and Costa Rica. According to Prado, Ecuador “is one of the most stable economies” in the region and a country seeking to “promote a deep continuous transformation” based on “competitive rules.”
At the Beijing conference, Ecuador’s ambassador to China Carlos Larrea said that “looking at Asia is looking at the future of the world” and that the Asian country continues to expand its external opening by optimizing its trade structure.
teleSUR
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