New round of negotiations to reach an agreement with Mexico begins today

Ecuadorian authorities and representatives of the business sector who are part of the fourth deputy participate in the in-person meeting in Mexico.

Ecuadorwill participate from this Monday, January 17, 2022 in anew round of bilateral negotiationsto reach a trade agreement with Mexico. The meeting will last untilFriday January 21.

A delegation made up of Ecuadorian authorities and the business sector that makes up the fourth deputy traveled to the meeting in the North American country.

The dialogue will take place, in person, in Mexico. If an agreement is reached, which the Government projects will be reached in the first quarter of this year, the two countries will be able to trade goods and services without paying tariffs, in addition to improving the climate to attract mutual investments.

The issues to be discussed within the rounds are those pending, mainly, in the market access and origin tables with the most sensitive products on both sides. On the Ecuadorian side, among the sensitivitiesthere are white goods and vehicle assembly; and on the Mexican side, shrimp and banana.

during the weekendThe Ministry of Production reported that meetings were held with the fourth deputy, which includes representatives of the banana, industrial, and automotive sectors, among others; before the start of the new round of bilateral negotiations for the trade agreement.

Exchange with Mexico has historically been asymmetrical. In 2020, sales of products from Mexico to Ecuador were $560.5 million, that is, five times what the country sent to that market. Ecuador focused on selling agri-food products, such as cocoa, canned fish, extracts and vegetable oils.

Ecuador requires a trade agreement with the North American country to be accepted as a member of the Pacific Alliance, a bloc also made up of Colombia, Peru and ChileThis is one of the main drives to accelerate the signing with the North American nation.

In January 2020,Ecuador began the First Round of Negotiations of the Productive Integration Agreement with the United Mexican States with a view to expediting the country's accession to the AllianceThe technical teams met, at that time, from January 28 to 30 in Quito.