Ecuadorian shrimp regained access to key market

Published 2024년 6월 7일

Tridge summary

Chinese customs authorities have lifted suspensions on nine Ecuadorian companies exporting shrimp, reinforcing trade ties between the two countries. This development, part of a broader free trade agreement, underscores China's role as Ecuador's top non-oil trading partner, with significant exports-imports transactions in 2023. The agreement aims to foster economic growth, diversify sectors, and encourage private sector innovation, including efforts to promote formal mining and ecotourism despite resistance. Additionally, a pact with Uruguay to establish an 'open skies' system will enhance connectivity and business opportunities, aligning with Ecuador's strategy to improve international connectivity and support economic activities.

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Original content

The Chinese customs authorities lifted the suspensions that had been in effect since February for nine Ecuadorian companies exporting shrimp, a product of which Ecuador is the world's leading exporter, with the Chinese market as its main destination. The lifting of the suspensions was announced by the Ministry of Production, Foreign Trade, Investment and Fisheries, which in a statement predicted that "this relaxation of (China's) sanitary measures will allow a boost in the flow of exports." "With this action and after months of hard work, the Ministry manages to strengthen its commercial link with one of our main economic partners on a global scale, and the first as a shrimp export destination," he added in his statement. Since May 1, the trade agreement between China and Ecuador came into force, making the Andean country the fourth in Latin America to have a free trade agreement with the Asian giant, after Chile, Peru and Costa Rica. Before negotiating the trade agreement, China ...

Source: Infobae