President Guillermo Lasso has confirmed that negotiations to conclude a Free Trade Agreement (FTA) with China on January 3, 2023 have been completed. This means that Ecuadorian exports have tariff advantages to access the world’s largest market.
According to the Ministry of Production, Foreign Trade, Investment and Fisheries, an agreement and roadmap with the Chinese government have been established after four rounds of negotiations, which began in February 2022.
Up to 99% of Ecuadorian products will have priority access in China once the treaty between the two countries comes into force. The state’s portfolio reports that the products to benefit will primarily be agricultural and agricultural products such as shrimp, bananas, roses and flowers, cocoa, and coffee.
It also allows the export of non-traditional products such as pitahaya, pineapples, mangoes, blueberries, quinoa, processed foods, fresh and canned fruits, and many other products from agriculture and the agricultural industry.
Source: ecuadortimes.net
