On February 16, the third chief negotiators’ meeting of China-Ecuador FTA was held via video link, and the two sides confirmed that their FTA negotiations have been concluded.

The China-Ecuador FTA negotiations were launched in February 2022. After the negotiations were concluded, the teams of both sides will continue to complete the legal scrub and translation, among other follow-up work, and complete their respective domestic procedures, so as to officially sign the FTA as soon as possible.

In 2022, the bilateral trade between China and Ecuador was US$13 billion, a record high, with a year-on-year increase of nearly 20%. The China-Ecuador FTA will play a positive role in promoting the sustained, stable and diversified development of trade and investment between the two countries and elevate bilateral economic cooperation and trade to a new level.