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  • Foreign Trade Minister Ivan Ontaneda (C) talks with production sector's representatives, Quito, Ecuador, Nov. 17, 2020.

    Foreign Trade Minister Ivan Ontaneda (C) talks with production sector's representatives, Quito, Ecuador, Nov. 17, 2020. | Photo: Twitter/ @IvanOntanedaB

Published 26 November 2020
Opinion

Currently, the United States is the main destination for Ecuadorian exports.

Ecuador's Committee of Foreign Trade (Comex) authorized the beginning of negotiations for the subscription of a preliminary Free Trade Agreement (FTA) with the United States on December 7.

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Foreign Trade Minister Ivan Ontaneda explained that the preliminary FTA will not address "sensitive issues" such as trade in agricultural goods.

The negotiations will be focused on issues such as export facilitation, better regulatory practices, anti-corruption in trade processes, and the development of micro, small, and medium enterprises.

According to official figures, despite the difficulties caused by the COVID-19 pandemic, the U.S. has become the main destination for Ecuadorian exports.

Supporting the signing of the preliminary FTA, the Ecuadorian Federation of Exporters insisted on the need to strengthen the shipment of national products to attract more foreign currency. 

On Nov. 16, President Lenin Moreno announced the signing of the preliminary FTA, which has been listed as a major goal on his administration's foreign trade agenda along with the talks for the inclusion of the country as an associate member of the Pacific Alliance.

The beginning of the negotiations will take place in the midst of the political campaign for the presidential elections to be held in February 2021.

As of November 23, the National Electoral Council (CNE) has processed 17 duplicates for the Presidency and Vice Presidency, of which only 15 have been officially qualified to participate in the general elections.

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