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Correa: Ecuador will not sign a FTA with the EU

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Prensa Latina | 21 Jan 2014

Correa: Ecuador will not sign a FTA with the EU

Quito, Jan 21.— President Rafael Correa denied today that Ecuador will sign a Free Trade Agreement (FTA) with the European Union (EU), after explaining that unlike neighboring countries, his government negotiates a trade agreement with the European bloc.

We have resumed the negotiations, but we will not sign an FTA with the EU, but a trade agreement, Correa stressed Tuesday during a press conference in the south-western port city of Guayaquil.

Correa reiterated that his government has set certain boundaries that they are not willing to cross, especially, he said, in the field of public procurement and intellectual property rights.

The EU and Ecuador had the first round of talks last week in Geneva, and according to Correa there are practically no disagreements, but they are still negotiating deadlines.

Correa, who is an economist, said it is a fallacy to say that free trade benefits everyone, because the damage, he said, outweigh the benefits.

Correa also said that it is a mistake to believe that all foreign investment is good, and that it is an indicator of the quality of economic policy.

There are foreign investors who plunder the country, said the president, after noting that the good foreign investment is that which provides technology transfer, and that, he said, is what we are looking for. (Prensa Latina)

 source: Prensa Latina