A market opportunity


Trade between Ecuador and Canada is minimal. It represents only 0.64% of total exports of Ecuador.

The main product being marketed to Canada is oil, although according to the Centre for Foreign Trade, the market offers greater opportunities that present. Especially for non-traditional products such as vegetables, fruits and vegetables that have high demand in that country, but have not yet traded on a large scale.

The main reason, says Carol Chehab, the Observatory, which is between the two countries there has been no progress in the signing of a far-reaching trade agreement that would give trade advantages to Ecuador, as the reduccción tariffs.

It is therefore hoped that the reunion to be given today between the minister of Foreign Trade of Canada, Michael Portier, and the Deputy Minister for Foreign Affairs, Jose Valencia, will prioritize this point. Moreover, after that neighboring countries like Colombia and Peru have already signed a trade agreement with Canada.

Initially Ecuador also was invited to participate in the process, but took a step to the side. Then, the Ecuadorian Foreign Ministry explained that its policy is not to negotiate free trade treaties that include only economic issues. And to sit to negotiate should also take into account issues such as transeferencia technology, cooperation and political dialogue.