China's commerce minister Wang Wentao and Ecuador's minister for production, foreign trade, investment and fisheries Julio Prado recently signed a memorandum of understanding (MoU) to start negotiations for a free trade agreement (FTA). In 2021, China-Ecuador bilateral trade totaled $10.95 billion, an increase of 44.5 per cent year on year.The two sides launched a feasibility study on the FTA in September last year and completed it in January, according to a Chinese news agency. China has been Ecuador's second-largest trading partner for two consecutive years.
The signing of the FTA will help further tap the potential of bilateral trade and promote the sustained, stable and diversified development of bilateral trade, according to an official Chinese government statement.
China's commerce minister Wang Wentao and Ecuador's minister for production, foreign trade, investment and fisheries Julio Prado recently signed a memorandum of understanding (MoU) to start negotiations for a free trade agreement (FTA). In 2021, China-Ecuador bilateral trade totaled $10.95 billion, an increase of 44.5 per cent year on year.#
Fibre2Fashion News Desk (DS)