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Ecuador


Ecuador not renewing pact with US
Ecuador’s new leftist president has decided not to renew a bilateral investment treaty with the United States, the country’s foreign minister said Monday, just days before a senior US official is due to visit.
Foreign investors gone wild
When Bolivian President Evo Morales took office in January 2006, he pledged to follow through on his campaign pledge to increase Bolivians’ share of revenues from their major source of foreign income, natural gas. International gas companies, however, threatened to sue. Previous Bolivian governments had signed a flurry of bilateral investment treaties that gave foreign investors the right to bypass domestic courts and file such lawsuits through international tribunals. Morales complained that these rules made him feel like a “prisoner” in the presidential palace.
Chavez, Morales, Correa bypass US in deals with Iran, China
Presidents including Ecuador’s Rafael Correa, Venezuela’s Hugo Chavez and Bolivia’s Evo Morales are bypassing the US in reaching trade accords and strengthening diplomatic and commercial ties with nations that compete with, or are hostile toward, US interests.
Correa brings hope to Ecuadorians
When Ecuadorians went to the polls on Nov. 26 they collectively said no to neoliberalism as they voted overwhelmingly for maverick candidate Rafael Correa over billionaire banana tycoon Alvaro Noboa.
US will re-negotiate free trade deals
The Bush administration said Wednesday it will renegotiate the language covering labor rights in free trade agreements it has reached with Peru, Colombia and Panama, in order to get the deals approved by the new Democratic Congress. The three countries have already been notified.
Ecuador not interested in FTA while Peru expects a ratification soon
Correa’s government officially announced that Ecuador is not interested at the moment to negotiate a free trade agreement (FTA) with the US.
Ecuador to US: No FTA, no troops here
Ecuador will refrain from signing a free trade agreement with the United States and will not renew the agreement for use of Manta Air Base by the US military, confirmed President-Elect Rafael Correa Thursday.
Free trade vs. economic pain in Ecuador
The country is split over a possible permanent trade deal with the US.
Ecuador rejects US free trade pact
Ecuador’s President-elect Rafael Correa said Sunday that he will not sign a free trade agreement with the United States. "We don’t have a national currency, we have the dollar," he told Radioprogramas. "If as a result of the agreement, Peru and Colombia have a problem in the external sector, they reduce the currency’s value and correct the imbalance. Ecuador can’t do that and the consequences could be incalculable."
Ecuador’s president-elect rules out signing trade pact with US
Ecuador’s President-elect Rafael Correa said Sunday that he will not sign a free trade agreement with the United States but will seek extended trade preferences under an anti-drug agreement.
Ecuador: Canada seeks to start free-trade talks by year-end
Canada has proposed starting official talks with Ecuador on a bilateral free-trade agreement before the end of 2006, the Andean nation’s Foreign Ministry said Friday in a press statement.
Dole Fresh Flowers’ cuts hit small Ecuadorean town hard
In many ways, the flower industry in Ecuador put this small town on the map. Now, just as quickly, it may be erasing it.
Occidental drops a claim but may strengthen suit vs government
US-based Occidental Petroleum Corporation (OXY) has dropped a compensation claim against Ecuador’s state oil company Petroecuador in a move that analysts said may strengthen the oil firm’s case against the government.
Ecuador Prez: No Oxy arbitration
Ecuadorian President Alfredo Palacio has rejected arbitration against his nation for annulling in May the contract with US Oxy oil company that operated there.
Court denies Occidental bid for assets - Ecuador
An international arbitration court has rejected a request by Occidental Petroleum Corp. to stop Ecuador from seizing its assets in the Andean country, a government official said on Tuesday.
Canada: The Occidental Tourist - Expropriation Claim Tests BIT Efficacy
The outcome of Occidental Petroleum’s latest dispute with Ecuador will be an important test of the effectiveness of BITs in protecting overseas investor rights in volatile political climates.
Andean Community: Grasping at unity straws
The foreign ministers of the Andean Community of Nations (CAN) forged ahead in attempts to quiet fears of an imminent collapse of the bloc following Venezuela’s withdrawal, despite member-country political differences that were all too evident at the regional summit.
Top Ecuador FTA negotiator resigns
More fall out from the Ecuador-Oxy clash: things went from bad to worse for Ecuador-US Free Trade negotiations when Ecuador’s Minister of Finance, Jorge Illingworth and his successor, Manuel Chiriboga both resigned.
South American Ministers vow to avoid TRIPS-plus measures
The Ministers of Health of ten South American countries issued a joint declaration on intellectual property committing themselves to avoid "TRIPS plus" provisions in bilateral and regional trade agreements, to facilitate the use of compulsory licensing and parallel importing and to avoid broadening the scope of patentability and the extension of patentable areas.
Ecuador: Government gears up for Oxy fallout
Showing the door to Occidental Petroleum (Oxy) and scuttling US free trade negotiations have long been agenda priorities for Ecuadorian social movements and political sectors. But following government steps that have all but made these goals a reality, the atmosphere seems more anxious than celebratory.