The governments of Ecuador and Canada plan to begin negotiations on a trade agreement between the two countries in March 2024, the Ecuadorian minister of production, foreign trade, investment and Fisheries, Sonsoles García, announced on Thursday.
The minister announced the date after a meeting between Foreign Affairs Minister Gabriela Sommerfeld and Canadian Ambassador to Ecuador Stephen Potter in Quito. This follows the Canadian government’s approval to begin negotiations for a free trade agreement with Ecuador.
The implementation of such a bilateral trade agreement could generate some 40,000 new jobs in Ecuador, according to the ministry of production.
Canada is currently the eighth largest destination for Ecuador’s non-oil exports. 78% of Ecuadorian companies exporting to the Canadian market are micro, small, and medium-sized enterprises (MSMEs).
After taking office a few weeks ago, Garcia stated that the trade policy of president Daniel Noboa’s government will focus on negotiating and signing a trade agreement with Canada and gaining approval from the United States for the Individuals with Disabilities Education law.
Source: La Prensa Latina
