11th May 2023

AsiaCentral & South America

China and Ecuador sign Free Trade Agreement

China and Ecuador signed a free trade agreement on 11th of May, China's commerce ministry said.

This deal strengthens Ecuador’s relations with the world’s second biggest economy and will create a more favourable, transparent and stable business environment for businesses. The free trade agreement, which must still be ratified by Ecuador’s national assembly, allows preference for exports to China, in particular agricultural and agro-industrial products including shrimp, bananas, cut flowers, cocoa and coffee.

The Chinese ministry said the deal would further stimulate the potential of trade and investment cooperation between the two countries.