Ecuadorian-Chinese Chamber of Commerce: Ecuador must take advantage of China's negative food balance and sell more products

This Thursday the ExpoChina Business takes place and in December the China-Lac Summit 2022, the most important commercial event between China and Latin America.

With $1,062 million in the first quarter of 2022, China was the first destination for Ecuador's non-oil, non-mining supply. During this period, shipments to the Asian giant more than doubled compared to 2021. Gustavo Cáceres, executive director of the Ecuadorian-Chinese Chamber of Commerce, analyzes this rebound in the Chinese market and how the signing of a trade agreement has accelerated the interest of Ecuadorian entrepreneurs to sell to that country, which has generated events to show this business ecosystem, such as ExpoChina Business 2022, which will take place this Thursday, May 19 in Guayaquil.

What is the reason for this rebound in exports to the Chinese market, in a context in which countries are now protecting their production and supply?

It is known that China has a negative food balance, that is, its population consumes more than its own country can produce. This opportunity should be taken advantage of by Ecuador, especially seeking to position its most competitive products in the fruit, legume, seafood and processed food sector. This would be even more viable with the signing of the trade agreement.

What is the current status of trade between China and Ecuador?

In 2021, trade exceeded $6.7 billion, however, our non-oil trade balance remains negative by around $1.15 billion, especially due to the lack of a trade agreement that allows us to bring more products to the market. Chinese.

How will a trade agreement with China benefit Ecuador?

Currently, China, in addition to being the most populated country in the world, has a middle class with approximately 600 million people, which makes it a market with a lot of potential for Ecuadorian products, especially those in the agricultural, fishing, and industrial sectors. of drinks and food. Likewise, the importing sector and the Ecuadorian consumer will benefit from the entry of raw materials, technological equipment, work tools and consumer products at more accessible prices.

How many Chinese companies have investments or are present in Ecuador and vice versa?

There are currently more than 90 companies in the country, mostly linked to mining, construction, service and trade projects. Most of its offices are located in the capital city.

The start of talks for an agreement with China activated the interest of Ecuadorian businessmen in the Asian giant. Will the Chamber show this offer at a fair?

It is the first edition of ExpoChina Business, however the Chamber has been organizing national and international trade and business fairs since 2011. The main objective of this event is to be a meeting point for all businessmen and entrepreneurs interested in learning about how to buy and sell your products with China. The fact that our country is in the process of negotiating a trade agreement with the Asian giant should push us to train ourselves to be prepared and take advantage of all possible opportunities once the signature is signed.

What will be the attractions of ExpoChina Business?

Our expo will be a 360 event, within its components we will have the opening with a Chinese-style ribbon cutting, an exhibition area with more than 50 facilitating companies to do business with China, free training throughout the day with topics focused on the export sector and importer and, at closing, an event of networking vip.

How many Chinese companies will be present and in what segments?

This is an event with the participation of local companies affiliated with our institution, many of them have operations in China so they become allies for entrepreneurs who want to start businesses with this great country.

Is this event a kind of prelude to the China-Latin America Business Summit?

Totally, it is important to mention that thanks to the management of our Chamber, Ecuador was announced as the venue for the most important business event that exists between China and the region, the China-Lac Summit 2022, which will take place in Guayaquil in the first week of December. . This will be a showcase to show the best of the country, promote investment projects and being very optimistic, we hope that it will be the framework for the signing of the trade agreement between Ecuador and China.