The signing of the agreement is a first step to advance to a comprehensive trade agreement with the North American country
This Tuesday, December 8, 2020, Ecuador signed a first phase agreement with the United States, focused on four areas: Trade Facilitation and Customs Administration, Good Regulatory Practices, Anticorruption, and Small and Medium-sized Enterprises (SMEs).
The United States Trade Representative, Robert Ughthizer, and the Minister of Production, Foreign Trade, Iván Ontaneda, announced the conclusion of the Protocol on Trade Rules and Transparency.
“The agreement is the latest concrete result of the close relationship between Ecuador and the United States under the leadership of President Trump and President Moreno,” says the ministry statement.
Following the meeting of the two leaders at the White House, last February, the Office of the United States Trade Representative and Ecuadorian officials accelerated their collaboration within the framework of the Trade and Investment Council (ICT) Agreement between Ecuador and the United States.
The Ministry explains that the agreement “promotes the high standards established by Ecuador and the United States in their recent trade negotiations.”
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