If there is no agreement with Mexico until the Summit of the Pacific Alliance, Ecuador will think of another strategy

Published 2022년 11월 15일

Tridge summary

Ecuador is nearing a completion of a trade agreement with Mexico, making up 99% of the negotiations, with a focus on key products such as shrimp and bananas. However, a new strategy is being contemplated in case the agreement is not finalized by the Pacific Alliance Summit set for November 23-25, 2022. The summit is a crucial platform for Ecuador to gain entry into the Pacific Alliance, a trade bloc consisting of Mexico, Colombia, Peru, and Chile. Simultaneously, Ecuador is pursuing trade agreements with China, Costa Rica, and the United States, aiming to conclude them by the end of the year or early 2023, which include aspects like environmental and labor standards, fair trade, and electronic commerce.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A decisive week. With 99% progress in the negotiations of the trade agreement with Mexico, it is still to be defined what will happen to Ecuador's star products, such as shrimp and bananas. Although the Government mentions that the new Mexican trade authorities have an open position, a new strategy is already being analyzed in the event that an agreement is not sealed until the Pacific Alliance Summit, which will take place between the 23rd and November 25, 2022 in the North American country. The trade agreement with Mexico is one of the requirements that Ecuador lacks to be part of the Pacific Alliance, made up of that country, Colombia, Peru and Chile. Although Ecuador is invited to the Summit of the Pacific Alliance, the authorities have mentioned that they will not attend if an agreement is not sealed. "We will have to take a new strategy in terms of market access and the willingness to enter the Pacific Alliance (...) What we would have to reconsider is the access times to ...

Source: Expreso