"The Latin American and Caribbean region, with its 662 million inhabitants, is closely linked to the People's Republic of China," Lasso said at the opening of the event with Chinese authorities at the Guayaquil Convention Center.
According to data from China's General Administration of Customs, trade between the two countries reached 450 billion dollars in 2021, said the Ecuadorian President in highlighting the importance of Ecuador-China trade relations.
Regarding the free trade agreement between the nations, Lasso said it is practically closed. According to the President, the agreement would mean more than one billion additional dollars in exports for Ecuador.
Por primera vez, Ecuador es sede de la XV Cumbre Empresarial #ChinaLacEcuador 2022. Evento importante para la economía del país y la Región. Aquí concretaremos oportunidades de negocio, inversión y cooperación. Estos encuentros se traducen en más empleo, comercio y desarrollo. pic.twitter.com/K30Kk9T8ea
For the first time, Ecuador hosts the XV China-LAC 2022 Business Summit. Important event for the economy of the country and the region. Here we will realize business, investment and cooperation opportunities. These meetings translate into more employment, trade and development.
Lasso said the FTA guarantees the protection of manufacturing jobs because the interests of the industrial sectors of the South American country were taken into account. He added that it includes a chapter on electronic commerce to promote exports by small and medium-sized companies.
The China-LAC Business Summit is organized annually by the China Council for the Promotion of International Trade. This year, the Ministry of Production, Foreign Trade, Investment and Fisheries of Ecuador also joined its organization.
The business event in Guayaquil welcomes exporters, importers, investors and other participants to promote business opportunities and cooperation.
The program includes a macro business roundtable and plenary session to take advantage of revitalization opportunities after COVID-19, as well as cooperation forums on trade and investment, green industry, China-LAC think tanks and digital cooperation.