The Eurasian Economic Commission and the Ministry of Foreign Trade of Ecuador signed a memorandum on trade and economic cooperation. Press service of the commission reported.
The parties noted the existence of mutual interest in expanding trade relations and discussed the potential for trade diversification. «The trade turnover between the EEU and Ecuador in January-September increased by about 12 percent compared to the same period of 2016 and amounted to $ 1.24 billion. This, of course, is very small amount, which in many respects is a consequence of the conservative structure of our commodity exchange,» member of EEC Trade Board Veronika Nikishina said.
We see the prospects for interaction not so much in the sphere of production and processing of hydrocarbons, as in expanding cooperation in the field of agriculture and industry. We understand that the products of machine building, transport, IT technologies are in high demand in Ecuador.Veronika Nikishina
"We are sure that the entrepreneurs of EEU countries have something to offer our Ecuadorian partners," she said.
The signed memorandum will be an important milestone for business in expanding the presence of Ecuadorian products (particularly meat and fruit) in the territory of EEU.