China will donate to Ecuador more vaccines against COVID-19 and household appliances for those affected by La Gasca, first results after presidential meeting

China will donate an additional 2,500,000 vaccines for children between 3 and 5 years of age and household appliances for families affected by the flood in the La Gasca sector in Quito. This was the first announcement made by President Guillermo Lasso after the meeting he had this Saturday, February 5, with President Xi Jinping.

Hours earlier, in a meeting with Chinese Prime Minister Li Keqiang, Ecuador outlined the need to achieve a trade agreement, which is expected to be finalized by the end of 2022. In that working meeting we also “talked about trade, investment and planned programs for the next two years,” Lasso said.

Guillermo Lasso informs Chinese businessmen of his intentions to auction the CNT internationally and sell the Banco del Pacífico to a foreign bank

In both meetings, topics of high national interest were addressed, such as marking the route to reach a trade agreement with China, maintaining cooperation ties in different sectors, especially to achieve post-pandemic economic reactivation and continue facing COVID-19. In addition, promote the investments of the Asian giant in Ecuador, according to a statement from the General Secretariat of Communication of the Presidency.

The president assured that there is an opening to strengthen economic cooperation, health care and financial sustainability.

At that point, Lasso said that with China they discussed the renegotiation of the debt and new forms of economic cooperation to improve financing conditions for the benefit of Ecuadorians.

The debt negotiations with China have already started with technical tables, before the visit of President Lasso

“China has donated millions of vaccines against COVID-19 to Ecuador. We show our gratitude to the Chinese people and the government for their support in the vaccination plan. It is a source of joy to inform you that work will continue on this matter, which is essential for reactivation,” Lasso said.

In the joint declaration of Ecuador and China there are issues such as the Free Trade Agreement and the renegotiation of the debt. In the next few hours its content will be disseminated. As well as more details and the results of these meetings by the Minister of Foreign Affairs, Juan Carlos Holguín.

President Guillermo Lasso arrived in Beijing on Thursday, February 3, to participate in the opening ceremony of the Winter Olympics and discuss with the Government of the Asian country the renegotiation of the debt and the signing of a free trade agreement.

“We arrived in China with two very important objectives for Ecuador: a free trade agreement and debt renegotiation. They are days full of work between the teams of both countries. We are sure that the results will be positive and will benefit the Ecuadorian people,” the president wrote on his Twitter account.

Upon his departure from Quito, he announced that he hopes to “achieve positive objectives for the development” of his country, which includes the renegotiation of the debt that it maintains with Chinese banks, which amounts to some $4,600 million, of which $400 million they are “concessional debt” at very low interest and very long term.

China is Ecuador’s second largest trading partner and one of the largest sources of foreign direct investment. He also met with businessmen to promote Ecuador’s exportable offer and the portfolio of investment projects.

Also traveling in Lasso’s entourage are his wife, María de Lourdes Alcívar; and the ministers of Foreign Affairs, Production, Economy and Health. (I)