China and Ecuador deepen cooperation in trade, digital economy, AI, 5G, energy and infrastructure. Both sides seek to expand market access, investment and agricultural exports while signing agreements covering green industries and digital development
China and Ecuador are making progress on expanding cooperation in several strategic sectors and digital technologies to deepen their economic relationship. It is based on a meeting between the leaders of the Chinese government and the Ecuadorian government, including the Chinese Premier Li Qiang and the Ecuadorian President Daniel Noboa, in Beijing, during which they discussed the development of economic and trade cooperation and mining in traditional and emerging industries.
In the meeting, Li expressed China's readiness to have more communication with Ecuador, develop mutual political trust and deepen mutually beneficial cooperation. He called for more development of the Belt and Road, and recommended that the two countries make full use of the bilateral free trade agreement to expand trade and economic cooperation.
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China was also interested in deepening cooperation in existing areas, including energy, mining and infrastructure, as well as strengthening collaboration in new areas such as 5G technology and artificial intelligence. Beijing said it would further expand purchases of high-quality agricultural and food products from Ecuador and welcome Chinese investment in the South American nation.
Meanwhile, Ecuador is looking to optimise the advantages it can derive from its free trade agreement with China through exports and investment. Noboa pointed out that the products have great potential to gain more access to the Chinese market, including bananas, shrimp, cocoa, coffee and flowers. Ecuador also wants increased coordination between health and customs officials to allow shrimp to be exported and for more products to be approved, such as avocados, blueberries, pineapples and poultry.
The two countries are also expanding their collaboration in other fields. Talks include disaster prevention, education, health and culture, hoping to create a broader context for bilateral cooperation.
After the talks, China and Ecuador inked several cooperation accords on green industries, economic and trade cooperation and the digital economy and public welfare. The agreements offer a guideline and an open context for developing cooperation in these spheres, where it is linked with both countries' economic development and economic priorities.
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The visit from Noboa, from August 16 to 23, is part of a series of steps that Ecuador is taking to enhance the relationship with the economies of Asia. The new agreements will facilitate more access to markets, investment flows, and technology cooperation, and will bring a new dimension to the economic relationship between the two countries.