Market Research Telecast | 14 July 2021
The Government of Ecuador wants to negotiate a free trade agreement with the United States
Quito, Jul 13 (EFE) .- The Government of Ecuador assured this Monday that it wants to negotiate a free trade agreement with the United States, its main trading partner, as its neighbors Colombia and Peru have already done.
The announcement was made by the Ecuadorian president, Guillermo Lasso, in a virtual speech at the inauguration of the “Business Future of the Americas BFA-2021”, considered one of the most important business meetings in the region.
“We will continue taking the necessary steps to move towards a free trade agreement with the United States. We seek an alliance that not only includes trade issues, but also labor law, intellectual property, gender equity, environmental sustainability,” among other aspects, commented the president in statements reproduced by his office.
These aspects are already part of the policies of the Lasso government, whose administration began on May 24, when he replaced Lenín Moreno, who was unable to negotiate the trade liberation agreement with the United States.
Peru in 2009 and Colombia in 2011 reached free trade agreements (FTA) with the United States, after lengthy negotiations from which Ecuador declined.
Lasso, a former center-right banker, remarked on Tuesday that Ecuador aspires to obtain more injection of foreign capital, as well as a greater volume of its exportable supply to other nations, which implies a greater insertion of the country in international markets, especially with USA.
The president also pointed out that this strategy will be key to the economic recovery of the country, whose deterioration was aggravated by the effects of the coronavirus pandemic.
For this reason, he stressed that the current vaccination plan against covid-19 that his administration is carrying out and that plans to immunize 60% of the population (9 million people) until the end of August, will be key to fully resume economic activities in his country.
Lasso also assured that the “BFA-2021” forum will stimulate investment, trade and, above all, strengthen the sustainable business environment between the United States and the region.