On February 16, the third chief negotiator meeting of the China-Ecuador Free Trade Agreement was held via video, and the two sides confirmed the end of the free trade agreement negotiations.
Negotiations on the China-Ecuador Free Trade Agreement will start in February 2022. After the negotiation, the teams of both sides will continue to complete follow-up work such as text legal review and translation, and perform their respective domestic procedures, striving to formally sign the free trade agreement as soon as possible.
In 2022, the bilateral trade volume between China and Ecuador will reach 13 billion US dollars, a record high and a year-on-year increase of nearly 20%. The China-Ecuador Free Trade Agreement will play a positive role in promoting the sustained, stable and diversified development of trade and investment between the two countries, and promote bilateral economic and trade cooperation to a new level.