The government’s trade agenda continues despite the short period it has left. The process to start negotiations for a Free Trade Agreement (FTA) with Canada already has defined dates. This was announced by the Ministry of Production, Foreign Trade, Investments and Fisheries this Monday, June 19, after its leader, Julio José Prado, met virtually with his Canadian counterpart, Mary Ng.

The ministry reported that Prado and the Canadian official had agreed on the next steps for negotiations. With that, they decided that the research phase that started last February ends this month; and that a request to start negotiations be sent to the Canadian Parliament next September.

Ecuador hopes to sign a trade deal with South Korea in the months remaining in Guillermo Lasso’s government

The announcement follows Prado’s last week on the progress of signing an agreement with South Korea, expected in two or three months, which could coincide with a visit by President Guillermo Lasso to the country.

The minister reminded on his Twitter that 24 disciplines will be negotiated with Canada. “This month we will close the research phase. We will leave everything ready for the new government to continue negotiations without wasting time. This will be a very important trade agreement for our country,” added Prado.

Meanwhile, Minister Mary Ng highlighted the leadership of Canadian companies, major investors in Ecuador’s natural resources sector, and highlighted Canada’s interest in exploring new opportunities related to infrastructure projects, the country’s portfolio reported.

According to official data, in the last five years, Ecuadorian exports to Canada have grown by 22% per year, from 85.2 million dollars in 2017 to 189.8 million dollars in 2021, ranking in top 20 export destinations of Ecuador without oil.

While in the area of ​​investments, in the period from 2017 to 2021, the North American country was the main foreign investor in our country, with foreign direct investments (FDI) of 739.4 million dollars.