Joint statement on the launch of exploratory discussions toward a potential Canada-Ecuador Free Trade Agreement

November 24, 2022 – The Honourable Mary Ng, Canada's Minister of International Trade, Export Promotion, Small Business and Economic Development, and Julio José Prado, Ecuadorian Minister for Production, Foreign Trade, Investment and Fisheries, today met at the Pacific Alliance Summit in Mexico City, and announced the launch of exploratory discussions toward a potential Canada-Ecuador Free Trade Agreement.

Ecuador and Canada enjoy strong bilateral relations governed by shared values, including a commitment to prosperity, democracy, human rights, and an international rules-based system. In recent years, Canada-Ecuador relations have been reinforced by growing diplomatic and commercial ties between our countries. Ecuador-Canada two-way bilateral merchandise trade continues to grow and in 2021 reached approximately USD $759 million (CAD $953 million). Canada and Ecuador's deepening relationship can be seen in the opening of Ecuador's new trade office in Ottawa, which will take place on December 1st.

Today the ministers underscored the possible opportunities and benefits for workers, businesses, and consumers of the two nations that a potential FTA could offer by improving market access conditions and creating a more predictable and transparent trading environment.