China and Ecuador have concluded negotiations, striving for the early formal signing of the FTA
Photo Source: www.cctv.com
The Ministry of Commerce recently disclosed that the third chief negotiators' meeting of China-Ecuador FTA was held via video link, and the two sides confirmed that their FTA negotiations have been concluded. The China-Ecuador FTA negotiations were launched in February 2022. After the negotiations were concluded, the teams of both sides will continue to complete the legal scrub and translation, among other follow-up work, and complete their respective domestic procedures, so as to officially sign the FTA as soon as possible.
In 2022, the bilateral trade between China and Ecuador was US$13 billion, a record high, with a year-on-year increase of nearly 20%. The China-Ecuador FTA will play a positive role in promoting the sustained, stable and diversified development of trade and investment between the two countries and elevate bilateral economic cooperation and trade to a new level.
Photo Source: Beijing Business Today
At the 2022 China International Fair for Trade in Services (CIFTIS), Latin American and Caribbean theme events were held. Delegates from the embassies of Ecuador, Panama, Dominica, Mexico, Colombia, Uruguay, Trinidad and Tobago and Cuba in China promoted their respective advantageous projects in relevant fields. Ecuadorian Ambassador to China Carlos Larrea introduced the 15th China-Latin America Entrepreneurs Summit scheduled to be held in Ecuador in mid-December of that year.
Carlos Larrea mentioned that the CIFTIS is a key platform for China to open up further to the outside world, deepen its integration and realize innovation, and has made positive contributions to the growth of global services and trade services. He added that Ecuador actively participates in the framework of the Belt and Road Initiative and welcomes Chinese investments in agriculture, mining, telecommunications, energy, infrastructure, logistics, pollution-free industry and electricity. By the end of the fair, more than 100 Chinese companies have business in Ecuador.
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● 中国国际服务贸易交易会由中华人民共和国商务部和北京市人民政府共同主办。
● 中国国际服务贸易交易会是全球首个国家级、国际性、综合型服务贸易交易会，是服务业、服务贸易的展示窗口、交流平台、合作桥梁。
● China International Fair for Trade in Services (CIFTIS) is co-hosted by the Ministry of Commerce of the People’s Republic of China and the People’s Government of Beijing Municipality.
● CIFTIS is the first state-level global comprehensive fair for trade in services, serving as an exhibition window, communication platform and cooperation bridge for the service industry and trade in services.
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