HomeBlogNational2020 marked a decline in commercial exchange between Ecuador and Mexico, a country with which an agreement is being signed until November

2020 marked a decline in commercial exchange between Ecuador and Mexico, a country with which an agreement is being signed until November

  • May 31, 2021
  • Posted by: medium
  • Category: National
No Comments

Exports and imports between the two nations fell; The commercial balance is negative for Ecuador, with $ 469.6 million.

Ecuador exported in 2020 to Mexico$ 90.8 millionand imported from the Central American nation$ 560.4 million, resulting in a negative trade balance for Ecuador of$ 469.6 million, according to figures from the Central Bank of Ecuador (ECB).

In relation to 2019, imports dropped the19,96%And exports even more, the27,86%.This decrease in commercial exchange between the two nations is greater even than in 2019, when imports from Mexico dropped 12.6% and Ecuadorian exports marked a decline of 26.6% in relation to the previous year (2018).

The downturn in the commercial exchange occurs in a context in which both nations seek to advance in the negotiations for a commercial agreement that facilitates it and that at the same time allows Ecuador to meet one of the pending requirements for entry into the Pacific Alliance, which is to have agreements with all its members: Chile, Peru, Colombia and Mexico, the latter the only country with which Ecuador has no treaties.

Ecuador deals since 2019 to expedite its entrance to the block, which is the eighth economy of the world with a market of more than230 million people. In addition, the partners have managed to release tariffs the98%of your commercial exchange.

Julio José Prado, Minister of Production, Foreign Trade, Investments and Fisheries, said that the signing of an agreement with Mexico is a priority and for this they have a period of six months, that is, until next November.

"Once we have closed we can ratify Ecuador's entry into the Pacific Alliance," said Prado, who last Tuesday met with the Vice Minister of Foreign Affairs of Mexico, Maximiliano Reyes, with whom he addressed the advances of the negotiations.

The four issues that are still negotiated with Mexico are access to markets, services, investments and intellectual property.

"He held a fruitful meeting with the Minister of Production, Foreign Trade, Investments and Fisheries, Julio José Prado, to whom we reiterate Mexico's commitment to advance the negotiations of a commercial agreement for the benefit of both nations," said Reyes, after the meeting with Prado, in Ecuador.