This week the governments of Ecuador and China began the first round of negotiations for the free trade agreement, a round that is taking place virtually. 18 to 28 July, reported the Ministry of Production, Foreign Trade, Investments and Fisheries.
«In this phase the exchange of bilateral proposals for the texts of the chapters that the treaty will contain and the positions In several areas of negotiation, doubts regarding the proposals presented are also being resolved," said the statement released on Tuesday (19.07.2022).
On the first day, the Market Access and Legal Provisions tables met, while on Tuesday 19 the Investment Cooperation table was set up and on Wednesday 20 the Customs Procedures and Trade Facilitation and Rules of Origin table was convened. From July 25 to 27, the Sanitary and Phytosanitary Measures and Economic Cooperation tables; Technical Barriers to Trade and Trade Defense; and Electronic Commerce and Dispute Settlement tables will meet. The round ends on Thursday, July 28 with the negotiation of the Competition Chapter that will take place.
The dialogues between the delegates of each table will continue virtually. It is expected that the second round of negotiations takes place in August and a third en September, date by which progress is expected on the texts of the chapters of the trade agreement between the two countries.
China has been the last two years the second business partner Ecuador's most important exporter; "In 2021, Ecuadorian non-oil exports to the Asian country reached USD 3.623 million, consolidating itself as the second non-oil export destination for Ecuador. From January to May 2022, non-oil exports to the Asian country totaled USD 2.348, registering a growth of 109,7% compared to the same period in 2021," the statement said.
China and Ecuador began negotiating a free trade agreement following an agreement reached in Beijing, during an important visit by Ecuadorian President Guillermo Lasso in early February 2022. (Press release from the Ministry of Production, Foreign Trade, Investments and Fisheries)
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