Ecuador Seeks to Conclude Free Trade Agreement with Morocco
Economy
Ecuador's Minister of Production, Foreign Trade, Investment, and Fisheries, Luis Alberto Jaramillo Granja, has expressed his country's resolve to advance towards the conclusion of a free trade agreement and a bilateral investment treaty with Morocco.
The meeting focused on consolidating economic and commercial cooperation between the two countries.
Ecuador views Morocco as a strategic ally and a crucial distribution platform for North Africa, while Morocco sees Ecuador as a potential partner for its products in South America.
The two ministers discussed opportunities for trade in the agricultural sector, including Ecuador's exports of bananas, shrimp, and roses, which benefit from a weekly maritime logistics flow that reduces transportation costs.
They also expressed interest in initiating business in Morocco's strategic OCP group.
The ministers emphasized the need for investment in energy generation and transmission, as well as infrastructure development, such as roads, ports, and airports.
They also highlighted the importance of facilitating the business climate, identifying and removing technical and tariff barriers, and improving logistics to enhance interactions between their business communities.
The meeting resulted in the signing of a collaboration agreement to boost commercial exchanges and stimulate mutual investments.
This initiative marks a new step in the development of bilateral exchanges and cooperation, in accordance with the laws and regulations of each country.