According to the Ministry of Production, Foreign Trade, Investment, and Fisheries of Ecuador, this year, Ecuador will become the third country in South America (after Chile and Peru)- and the 25th in the world - to sign a free trade agreement with China.
Currently, joint trade between Ecuador and China exceeds $10 billion. In fact, in the first half of 2022, the People's Republic of China became Ecuador's main non-oil trading partner.
The entry into force of this trade agreement will grant 99% of Ecuador's current exports to China preferential access to this market, benefitting agricultural products, such as bananas. It will also open the doors to export non-traditional products, such as pitahaya, pineapple, mango, blueberries, fresh and canned fruits, and a large number of other agricultural and agro-industrial products, the Ministry stated.