Ecuador and China Advance Towards Free Trade Agreement, Anticipating 30% Boost in Exports and Strengthened Tie

Ecuador and China are progressing towards a free trade agreement (FTA), signaling potential benefits for bilateral trade and diplomatic ties. The FTA, eagerly awaited by Ecuador, is projected to boost the country's exports to China by 30% within three years. Already passed by the Constitutional Court, the agreement is set for ratification by Jun-24. The recent Expo China 2023 event in Ecuador highlighted the potential economic growth, job creation, and cultural exchange opportunities resulting from the FTA. Key Ecuadorian exports to China include shrimp, bananas, frozen fish, and cocoa, with sectors like bananas and cocoa expecting substantial gains from the agreement.