Ecuador signs agreement with China as fourth country in the region

On May 10, 2023, the Minister of Production of Ecuador, Julio José Prado, and his Chinese counterpart, Wang Wentao, have signed a trade agreement in a virtual protocol meeting.

“It is the most important trade agreement that Ecuador has signed, it will change the way it is produced in the country. We must prepare to send more products to China,” Prado said.  Gustavo Manrique, Foreign Minister of Ecuador, added that this agreement will open more opportunities for employment and diversification of the Ecuadorian economy.

99.6% of Ecuador’s exports to China will have access to that market, immediately or gradually. Prado explained that around 50% of exports will have immediate access, that is, without tariffs. Some products that will have this benefit are tuna, sardines and bananas.


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