Deal gives priority access to Chinese market for bananas and other fruits
Ecuadorian banana growers have welcomed President Guillermo Lasso’s announcement that the country will sign a free trade agreement with China after nearly a year of negotiations.
On Tuesday, Lasso tweeted:
“Our exports will have priority access to the world’s largest markets, giving our industry low-cost access to machinery and inputs.”
Ecuador’s Ministry of Production said in a statement, “This trade agreement will give priority access to 99% of Ecuador’s current exports to China, especially agricultural and industrial products such as shrimp, bananas, roses, flowers, cocoa and coffee. will be possible,” he said.
Richard Salazar, executive director of the Banana Exporters Association Akolbanek, said the deal was “great news for the export sector in general and bananas in particular. China is a potential market for growth in banana exports.”
Bilateral trade accounts for an estimated US$10 billion annually, and China is one of Ecuador’s largest trading partners.
A formal ratification date for the deal has not yet been set, according to sources.
Besides bananas, other fruits such as pineapples, mangoes, pitahayas and blueberries are expected to benefit from the deal.