30 January 2023
After ten months of negotiations involving representatives of the government and the business community, Ecuador will sign a trade agreement with China that includes protection for sensitive products.
Within the framework of the agreement, which has the approval of the productive sectors, the footwear industry is one of the protected industries. During the negotiations, these products were placed in the “sensitive” category, so they will not be prejudiced by cheap imports.
Among the leaders of the sector that participated in the negotiations is Dr. Lilia Villavicencio, who was president of the National Chamber of Footwear (CALTU) for fourteen years and today is part of the Board of Directors. Dr Villavicencio noted that, “the agreement includes “a drop in the tariff on imported raw materials, which will be important for the development of our sector.”
Miguel Ángel González, president of the Ecuadorian Business Committee (CEE), supported the agreement with China and stressed that “it has been negotiated with the local industry in mind.”
González considered that the treaty will boost Ecuadorian exports, which have a trade potential with China of US$125 million, according to a report by the International Trade Center.