Ecuador and Canada end negotiations for a commercial agreement

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Ecuador and Canada They closed the negotiations for a commercial agreement that will facilitate the access of the Andean country to a market of 39.8 million consumers in preferential conditions, the Presidency reported on Sunday.

In a statement, he noted that this agreement, which will be signed soon, will strengthen bilateral trade and generate new growth spaces for Ecuadorian producers, exporters and entrepreneurs.

In that sense, key sectors such as florícola, food, tuna, textile, auto parts, ceramics, footwear, wood, juices and pulp, cosmetics, plastics, hats and tagu Development of small and medium enterprises (MSMEs)

The Ministry of Production, Foreign Trade, Investments and Fisheries stood out in a statement that during the six negotiation rounds that have been carried out since March 2024, the Ecuadorian team “has precawed the country’s productive sensibilities.”

Among them, those of the agricultural sector and the peasant family economy especially in products such as rice, dairy, corn, sugar, pig meat, bovine, poultry, among others. He has worked in a permanent dialogue with all sectors to achieve a balanced agreement, he stressed.

Opportunities for young people

The future agreement also promotes both national and foreign investments, promotes tourism activities, generates spaces for cooperation and cultural exchanges between the two nations and opportunities for Ecuadorian young people since the development of professional services is promoted by recognition of professional qualifications , the ministry detailed.

Through the inclusion of a MSMEs chapter, it has sought to recognize the importance of these productive units as the basis for the development of the country’s economy, strengthening them and preparing them for their internationalization, through training, productive chains, investments and investments and providing effective tools to meet the requirements of bilateral trade with Canada.

It also contemplates an electronic commerce chapter, which seeks to contribute significantly to the expansion and development of the digital economy, providing benefits for both companies and consumers, and promoting international cooperation in the digital field.

The Ministry highlighted the commitments of the two countries to work together in strengthening labor and environmental policies to establish a link between trade and labor benefits, as well as promoting the positive contribution of trade towards an economy resilient to climate change.

He noted that the necessary margin of action is safeguarded to protect the rights of communities, peoples and nationalities, as well as vulnerable groups.

It also establishes cooperation mechanisms that allow communities, peoples and nationalities to export to the Canadian market, sharing the benefits of trade towards these important social groups.

“This agreement will strengthen economic competitiveness and ensure that Ecuador maintains and consolidates its constitutional framework in the management of strategic sectors and in the provision of public services,” he said, adding that this approach reflects a solid commitment to sustainable and equitable development, prioritizing The well -being of Ecuadorians within the framework of economic growth.

Canada has become one of the main investors in the mining sector of Ecuador, with a large gold mine already in exploitation since 2019, as is the fruit of the north, by Lundin Gold, and another series of companies that are in the process of obtain permits to develop various mining projects throughout the Andes and the Amazon of Ecuador.