Economy & Business - March 2024

ECUADOR: High hopes and concern as China FTA ratified

Ecuador’s national assembly voted on 7 February to ratify a free trade agreement (FTA) with China. The agreement was signed under former president Guillermo Lasso (2021-2023) in May 2023, and was approved with 76 votes in favour, 23 against, and 35 abstentions. The FTA is China’s fifth in Latin America, joining existing agreements with Chile, Costa Rica, Peru, and Nicaragua. The latter’s FTA with China came into effect on 1 January this year.

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