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Economy & Business - October 2021
ECUADOR: Domestic opposition to planned FTA with China
Ecuador’s President Guillermo Lasso held a virtual meeting on 30 August with his Chinese counterpart, Xi Jinping, in which he said the two leaders agreed to immediately begin trade negotiations with the aim of finalising a free trade agreement (FTA) by March 2022. While the announcement has delighted Ecuador’s China-oriented exporting sector, some domestic industries are less happy with the prospect of Chinese products having greater access to the Ecuadorean market and have begun lobbying the Lasso administration to maintain protections in certain areas. Nonetheless, Ecuador’s leverage in these negotiations will be limited, which will reduce its ability to obtain important concessions.
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