China-Ecuador FTA Signed... "Creating a Stable Business Environment"

China Signs 4th FTA with Latin American Countries

On the 11th, China signed a Free Trade Agreement (FTA) with Ecuador in South America.

According to the Chinese Ministry of Commerce, Minister of Commerce Wang Wentao signed the FTA with the Ecuadorian side and held a video signing ceremony on the same day. The two countries had been negotiating for a year since February last year and concluded the negotiations in February. This signing ceremony took place three months after the conclusion of the negotiations.

The Chinese Ministry of Commerce stated, "Both sides will achieve a high level of mutual openness through the FTA, providing more benefits to enterprises and creating a convenient, transparent, and stable business environment." It added, "(This FTA) will further stimulate the potential for trade and investment cooperation between the two countries and promote a comprehensive qualitative improvement in economic and trade cooperation between China and Ecuador."

Ecuador is the 20th country with which China has signed an FTA, and the fourth in Latin America after Chile, Peru, and Costa Rica.

The bilateral trade volume between the two countries reached $13.1 billion last year, a sharp increase of 19.7% compared to the previous year. China is also Ecuador's second-largest trading partner.

This content was produced with the assistance of AI translation services.