It is imperative that Ecuadorian exporters take advantage of the opportunities offered by the geoeconomy and international trade. These lines explain some of the benefits to take advantage of:

In March 2018, the President of the United States of America (USA) Donald Trump announced tariffs of fifty billion dollars on imports from China. This gave the rest of America’s supplier countries a chance to take the 22% share that China had in America’s imports by 2017. Between 2018 and 2022, America’s imports grew by $767,000 million. This figure is explained by the increase in purchases from Canada (16% of the total increase), Mexico (15%), Vietnam (11%), Taiwan (6%), South Korea (6%), India (5%), Thailand (4%) ), Ireland (3%), Germany (3%), Switzerland (2%), Malaysia (2%), Italy (2%), Indonesia (2%) and China (2%), mostly . The increase in exports of 19 out of 21 Latin American countries weighed only 5%.

Nobis signs an agreement with a global food company to open the market in Europe for exotic and non-traditional fruits

These numbers seem to reflect a few things. Five years later, North America’s call to replace Chinese supply shows initial progress. After it was answered by companies from countries that had deep-rooted trade agreements with the US and that could take advantage of their proximity (Canada and Mexico) and/or operated in agglomerations and sectors so competitive that they replaced part of China’s exports in US, Latin America’s participation suggests that the increase in its exports to the US between 2018 and 2022 was not due to the replacement of Chinese exports, but rather to increased sales of products it already exported to the US. In the case of Ecuador, the increase in exports to the US between 2018 and 2022 is explained mainly by the increase in exports of oil, shrimp, flowers, fruits and prepared foods.

How does the attached room work and what role has it played in the negotiations with China and other trade agreements?

Despite everything, the battle waged by developed countries for global leadership maintains an opportunity for Latin American countries to build production capacity and improve the competitiveness of their companies and business agglomerations. The most visible is the plan of the G7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom and the USA) to allocate 600 billion dollars of public and private financing for infrastructure in developing countries by 2027. the fiercest reaction of the G7 against the “Belt and Road” plan (The Belt and Road InitiativeBRI), through which China has been financing projects to improve connectivity and promote economic cooperation with countries in Asia, Europe, Africa and Latin America since 2013.

Let the time come to mature the plans to improve the competitiveness, growth and internationalization of our Ecuadorian companies, products and services. Let this be reflected in a national strategy that attracts investment and financing to increase and diversify our exports, to and from all developed economies. (OR)