The Ministry of Production, Exterior Commerce, Investment, and Fishery announced that on the first of May, 2024, the Free Trade Agreement (FTA) between Ecuador and China entered into force. The treaty addresses subjects related to the trade of goods, electronic trade, economic cooperation, and cooperation for investment.
Regarding the conditions of access to the Chinese market for Ecuadorian products, the authorities indicate that the treaty “supposes the immediate and gradual elimination of tariffs for 99.6% of our exports within a maximum period of 10 years.” Among Ecuadorian products most favored by this preferential access include, among others, pitahaya, cacao powder, tuna and prepared tuna, and toquilla straw hats receive benefits from the preferred access.
Additionally, the authorities highlighted that the reduction of tax is excluded in some products like textiles, manufacturing, school footwear, metallurgical products, rice, sugar, and milk to protect local production from Chinese competition.
Download the presentation of the agreement made by the Ecuadorian authorities.
Full presentation available only in English
