After the opening of a direct flight between Ecuador and Canada, there is talk of a possible trade agreement between the two countries; there are opportunities in chocolate, cannabis, mining, oil and tourism.
There Trade route What opened Air Canada, on December 9, between Quito and Toronto will allow Ecuadorian and Canadian products to reach their destinations more quickly. This could mean an increase exports and imports between the two countries.
The new direct flight has led both countries to assess the possibility of a trade agreementwhich they have not achieved in 59 years of official relations.
Nearly 55,000 Ecuadorian migrants crossed the Darién in 2023
What both economies experienced was isolated chords which brought them closer together, such as the treaty aimed at avoiding double taxation, currently in force.
In 2018, the flow of Canadian investments in Ecuador amounted to $196 million, while between January and June 2019 they reached $134 million, according to the Central Bank (ECB).
In an interview with PRIMICIAS Caleb McLean, president of Ecuadorian-Canadian Chamber of Commerceexplains it the process must be followed to finalize a business deal and what this step would mean for both economies.
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Why talk about an agreement now?
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Additional savings
Why is Ecuador attractive to Canada?
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Public-private partnerships
Are the main drivers of a possible agreement the mining and oil sectors?
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But, with the presence of Canadian companies like Lundin Gold, the mining sector will surely have weight in the negotiations.
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Which products would present disadvantages in a possible agreement?
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What is the process for reaching a trade agreement with Canada?
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What business opportunities are there in both countries?
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