After concluding a free trade agreement with China, Ecuador expects to increase its banana exports to China by 50%. TASS reports this with reference to the Association of Banana Exporters of the Latin American Republic.
“The trade agreement with China has been approved! Banana exports will grow by 50% in the first five years,” the agency quotes from the statement.
The day before, the Ecuadorian parliament ratified a free trade agreement with China. The goals of the agreement are said to be to expand exports, promote economic growth, create jobs and encourage investment.
Negotiations on a free trade agreement between the two countries began in February 2022. A year later, the parties announced the completion of consultations. The document was signed in May 2023.
As previously reported, Rosselkhoznadzor expressed concern about the situation with the supply of bananas to Russia from Ecuador due to the systematic detection of the polyphagous humpback fly in them. The service asked the country's competent agency to suspend the certification of bananas from five Ecuadorian exporters who committed the largest number of violations.