On May 10 and 11, 2023 – due to the time difference
– Ecuador and China signed a Free Trade Agreement focused on
the commercial exchange of goods and e-commerce.
During 2022 Ecuador exported to China around US$5,823 million in
products such as shrimp, lead and copper concentrate, other mining
products, bananas, balsa, wood, cocoa, among others. China exported
to Ecuador approximately US$6,353 million in products including
metal products, vehicles, automobiles, cell phones, computers,
among others.
Once the treaty enters into force, Ecuador's products will
have access to a market of 1.4 billion consumers and will be
subject – for the most part – to immediate tariff
relief. Ecuador's tariff relief for Chinese products is subject
to percentages and deadlines depending on the goods. With this,
Ecuador will compete with countries such as Peru and Central
America that already have a treaty with the Asian country.
