- April 12, 2022
- Posted by: medium
- Category: National
The Ministry of Production must inform the organism to the progress of the process of this negotiation.
After two months since the beginning of February China and Ecuador signed a memorandum for the negotiations of a commercial agreement between the two nations, theForeign Trade Committee (Comex)He gave green light for the official start of these.
Through theResolution 006-2022The agency issued, on April 5, a prior favorable opinion and commissioned the Ministry of Production, Foreign Trade, Investments and Fisheries for the beginning of them, with the support of other ministries and public entities that participate in the process.
The COMEX also arranged that the Ministry of Production reports to the Plenary of the Agency on the progress of the leading procedures for the development of the referred processes and that it reports quarterly on the advances and updates regarding the fiscal impact generated on the results of the process of this negotiation.
On February 6, in China,The Chinese Minister of Commerce, Wang Wentao, and the head of the Ministry of Production, Foreign Trade and Investments of Ecuador,Julio Jose Prado, signed the memorandum that marked the beginning of bilateral conversations, in the context of the meeting between the leaders of China, Xi Jinping, and Ecuador, Guillermo Lasso, in Beijing.
China has been the last two most important commercial partner in Ecuador; In 2021 the commercial exchange between the two countries was around 11,000 million dollars, and 44,5 % more than in the previous exercise. In addition, the Chinese population represents a market of 1,444 million inhabitants, highlights the document issued by Comex on Tuesday.
If a treaty is completed, exports to China could grow 35 %, according to government figures. According to Prado, the agreement would extend the market in about $ 1 billion in export opportunities.
The products that are most exported to that destination are shrimp, minerals, wood and manufactures.