The "Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Ecuador" was signed on May 11, 2023. Currently, both China and Ecuador have completed their respective domestic approval procedures, and the agreement will officially come into effect on May 1, 2024.

After the China-Ecuador Free Trade Agreement comes into effect, both parties will gradually eliminate tariffs on approximately 90% of tariff lines, with around 60% of tariff lines having tariffs immediately eliminated upon the agreement's entry into force. Additionally, the two sides will establish closer communication and cooperation mechanisms in various areas such as rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, trade remedies, dispute settlement, investment cooperation, e-commerce, competition, and economic cooperation. This will promote mutual coordination of relevant rules and regulations and provide a more convenient, transparent, and stable business environment for enterprises from both countries.

The implementation of the China-Ecuador Free Trade Agreement will enhance the level of trade and investment liberalization and facilitation between the two countries, further stimulate the potential for trade and investment cooperation, promote all-round upgrading of bilateral economic and trade cooperation, and enhance the well-being of enterprises and people in both countries.

Source: Ministry of Commerce website