- July 22, 2022
- Posted by: medium
- Category: National
The negotiations began virtually between the delegate teams of both countries. This first round will end on July 28.
The first round of negotiations between Ecuador and China for the signing of a Free Trade Agreement (FTA) began virtually this Monday, July 18, the Minister of Production, Foreign Trade, Investment and Fisheries reported last Tuesday afternoon. Julio José Prado.
“This week the exchange of offers from Ecuador and China began at various tables: market access, investments, customs processes, trade facilitation, etc. Exports to China were $3,623 million in 2021 and in 2022 (from January to May) they grow by 109% (with $2,348 million),” Prado posted on his Twitter account.
With these figures, China consolidated itself as the second non-oil export destination for Ecuador.
The Ministry reported that this first round will run until July 28. In this phase, bilateral proposals are exchanged for the texts of the chapters that the treaty will contain and the positions in various negotiation disciplines; doubts regarding the approaches made are also resolved.
On the first day, the Market Access and Legal Provisions tables met, while on Tuesday the 19th the Investment Cooperation table was set up.
This Wednesday the 20th, however, the Customs Procedures and Trade Facilitation and Rules of Origin table was convened.
Meanwhile, from July 25 to 27, the Sanitary and Phytosanitary Measures and Economic Cooperation tables will meet; of Technical Obstacles to Trade and Trade Defense; and, Electronic Commerce and Dispute Resolution. The round will end on Thursday, July 28 with the negotiation of the Competition Chapter.
The dialogues between the delegates of each table will continue virtually. The second round of negotiations is expected to take place in August and a third in September, a date by which progress is expected in the texts of the chapters of the trade agreement between the two countries.