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Ecuador reaches trade deal with China, aims to increase exports, Lasso says

Wednesday, January 4, 2023
Ecuador reaches trade deal with China, aims to increase exports, Lasso says © Reuters. Ecuador President Guillermo Lasso meets with U.S. President Joe Biden in the Oval Office at the White House in Washington, U.S., December 19, 2022. REUTERS/Leah Millis

(Reuters) - Ecuador President Guillermo Lasso said on Tuesday the country has sealed a free trade deal with China, an agreement expected to increase exports and boost growth in the South American country's industrial sector.

"Good news to start 2023. The negotiation between China and Ecuador has been successfully concluded," Lasso tweeted.

With the deal, Ecuadorean exports will have preferential access to China and the South American country's manufacturers will be able to acquire machinery and inputs at lower costs, Lasso added.

Ecuador started negotiations with Beijing in February 2022.

Lasso has said previously the deal would secure an additional $1 billion in Ecuadorean exports to China. He did not offer updated figures on Tuesday.

Last year Ecuador reached an agreement to restructure its debt with Chinese banks, providing relief worth some $1.4 billion until 2025.

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31-03-2024 10:19:50 (UTC+7)

EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

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Moving Avg:

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EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

Sell

Moving Avg:

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1.2624

+0.0002 (+0.02%)

Summary

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Moving Avg:

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USD/JPY

151.38

0.01 (0.00%)

Summary

↑ Buy

Moving Avg:

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Sell (1)

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0.6522

+0.0007 (+0.11%)

Summary

Sell

Moving Avg:

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1.3543

+0.0006 (+0.04%)

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Moving Avg:

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163.37

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 EUR/USD1.0793Sell
 GBP/USD1.2624Sell
 USD/JPY151.38↑ Buy
 AUD/USD0.6522Sell
 USD/CAD1.3543Buy
 EUR/JPY163.37↑ Sell
 EUR/CHF0.9738↑ Buy
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
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 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
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Cập nhật 31-03-2024 10:19:52
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Cập nhật lúc 10:12:31 31/03/2024
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