Prensa Latina | 26 August 2019
Ecuador, Mexico initiate FTA negotiations
Quito, August 26 (Prensa Latina) Authorities of the Ecuadorian Business Committee (CEE) and the Mexican Business Council for Foreign Trade (COMCE) begin on Monday negotiations prior to the signing of a Free Trade Agreement (FTA).
The talks between the technical teams will be led by the Ecuadorian Minister of Production and Foreign Trade, Ivan Ontaneda, and Mexican Economic Minister, Graciela Marquez.
This meeting will continue other rounds of negotiations in the first week of October in Quito, and the first week of November on Mexican soil, with the aim of reaching an agreement in 2021.
On a visit to Ecuador, COMCE and CEE signed a memorandum on information exchange, technical collaboration, trade promotion and investment facilitation.
According to Ontaneda, the understanding and cooperation agreement will facilitate public-private action between the two nations.
According to official figures, the Ecuador exports approximately 143 million dollars worth of goods to Mexico and imports approximately 750 million dollars worth.