The administration of President Guillermo Lasso will not be able to sign the treaty with Canada, if the negotiations are favorable.
The Government of Ecuador hopes to ask the Parliament of Canada to begin negotiations for a trade agreement between the two countries, September 2023. This was stated by the Minister of Production, Julio José Prado, on June 19.
The administration of President Guillermo Lasso will not be able to sign the treatyif the negotiations are favorable.
Eight roads closed from this Monday in Guayaquil for maintenance
Because? Because on August 20, the country will vote for president and vice president after what Guillermo Lasso will decree the cross of death and dissolve the Assembly.
Lasso is not a candidate.
“We will leave everything ready for the the new government resumes negotiations without wasting time. It will be a very important trade agreement for our country,” Prado said.
After holding a telematic meeting with the Minister of International Trade, Export Promotion, Small Business and Economic Development of Canada, Mary Ng, Prado indicated that this week the exploratory phase will end specify the framework of the negotiation.
In this sense, Prado explained that the negotiation will consider 24 themes.
I just had a conversation with @mary_ng.
We congratulate the teams for holding 15 working meetings and defining 24 negotiation topics.
This week the exploratory phase of the FTA will end 🇪🇨🇨🇦. There, Canada will launch the reports to request the formal start of negotiations. https://t.co/PyT0Fjm2QX
— Julio Jose Prado (@pradojj) June 19, 2023
Exports from Ecuador to Canada totaled $297 million in 2022, according to the central bank. That’s a 57% increase from 2021.
Natural resources and infrastructure
For her part, Canadian Minister Ng highlighted the leadership of Canadian companies, the main investors in the natural resources from Ecuador.
In addition, he underscored Canada’s interest in exploring new opportunities related to infrastructure projects.
After signing the trade agreement with China in May, The negotiation of the free trade agreement with Canada is one of the objectives of Ecuador’s trade policy for this 2023, together with the negotiations of a similar document with the Dominican Republic and Panama.
Ecuador’s exports reached $32,658 million in 2022, representing an increase of 22.3% compared to 2021, according to the Central Bank.
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