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On July 20th, 2023, the online signing ceremony between CICCPS and CCECH was successfully held. Bingshu Li the Secretary-General and Gustavo Cáceres the chairman represented CICCPS and CCECH respectively, attended the ceremony and signed MOU.
The signing is also a reunion of friends. Vice Chairman Wang Bin the Vice Chairman and his delegation of CCECH visited CICCPS on April 24th, which was three months ago. Members of CICCPS and CCECH had a fertile association and arrived at a consensus on promoting cooperation on fields such as agricultural products and new energy between the two countries.
Bingshu Li the Secretary-General of CICCPS
At the signing ceremony, Bingshu Li the Secretary-General delivered a speech first. He expressed gratitude to the leaders and member enterprises of CCECH for attending the online signing ceremony and sincerely invited the Chairman Gustavo Cáceres to CICCPS in the future. He stated that establishing friendly relations between China and Ecuador, promoting mutually beneficial economic and trade cooperation, and jointly promoting development are the common aspirations of both Chinese and Ecudorian governments. In February 2023, the presidents of China and Ecuador achieved a consensus to strengthen and improve bilateral relations, which pointed out the direction carrying out economical and trade cooperation between China and Ecuador. In May, governments of China and Ecuador signed a bilateral free trade agreement based on in-depth discussions and that marked a new stage of economic and trade exchanges and cooperation between the two countries. He believed that the implementation of the free trade agreement required not only the supports of both governments, but also the efforts of other parties including business associations from both countries. The CICCPS is a national organization established with the approval of the Chinese government and is dedicated to serving Chinese private enterprises to "go worldwide". In other words, CICCPS conducts and prompts international economic cooperations among private sectors. Member enterprises of CICCPS are widely distributed span sectors. It plays a positive and crucial role in promoting transnational cooperations in China with a focus on investment and trade. He hopes that CICCPS and CCECH will see the signing of the MOU as a new starting point, further strengthen exchanges and cooperation, and contribute on the economic and trade development of both China and Ecuador.
Mr. Gustavo Cáceres the Chairman of CCECH
Mr. Gustavo Cáceres the Chairman of the CCECH, delivered a speech at the meeting. He stated that the signing of free trade agreement between Ecuador and China is very important for trade cooperation between the two countries. China is the main trading partner for Ecuador and became Ecuador's main export destination with excellent cooperation in petroleum and many other fields in 2022. The signing of a free trade agreement will further enhance the vitality of economic and trade cooperation between the two countries and promote mutual developments on economic and trade relations. Under this circumstance, the signing of MOU between CICCPS and CCECH is a very important moment. He hopes that the cooperation between the two chambers of commerce will be more representative and distinctive. Moreover, he warmly welcomes CICCPS and its member enterprises to participate in the 2023 Ecuador-China Expo.
Bin Wang, the Vice-Chairman of CCECH, has been engaged in business in Ecuador for more than 20 years. He explained that Ecuador has a political stability and steady financial system with the US dollar as its domestic currency. Ecuador is a market-oriented country with better business environment compares to other countries in South America. There are opportunities in cooperative fields such as infrastructure construction, new-energy vehicle trade, mechanical and electrical import and export, and agricultural product import and export etc. Ecuador and China signed the free trade agreement at a record pace and offered a broader space for bilateral economic interactions between the two countries.
The online signing ceremony represents a starting point for a new cooperation. According to the MOU, CICCPS and CCECH will further maintain close contact and establish collaborative platforms for market information sharing, international trade, investment and mergers and acquisitions, education and training, and economic cooperation. They will facilitate business delegation visits, academic exchanges, and exhibition activities. They will provide suggestions or assistances on resolutions of trade barriers and unfavorable factors. CICCPS and CCECH will play a positive role in expanding practical cooperation in the economies and trade fields between the two countries. We welcome enterprises having willingness to expand business and conduct international cooperation in Ecuador to contact CICCPS for communication and negotiation on investment and trade cooperation. CICCPS will dedicate to serving enterprises on resource matchmaking, making good use of the preferential conditions from the free trade agreement, seeking new areas and seizing opportunities for cooperating.
Qifeng Wu, the Vice Secretary-General and Director of General Affairs Department of CICCPS and María Lissette, Secretary General of CCECH held the signing ceremony. Bin Wang the Vice Chairmen and Mr. Andrés Pengxiang Zhang of CCECH briefly introduced the economic and social development, investment environment, and preferential policies in Ecuador. There were also more than ten Ecuadorian entrepreneurs and representatives from other departments of CICCPS participated in the online signing event.
Ecuador-China diplomatic relationships abstract
In 2016, China and Ecuador established a comprehensive strategic partnership. In August 2021, Jinpinh Xi had a phone call with President of Ecuador Guilermo Lassor for an important consensus on deepening practical cooperation between China and Ecuador and pointed out the direction for economic and trade cooperation between two countries. In September 2021, China and Ecuador launched a joint feasibility study on the Free Trade Agreement and completed it in January of this year. On February 5th, China and Ecuador issued a joint statement on deepening their comprehensive strategic partnership.
China and Ecuador signed the Free Trade Agreement
In the evening on May 10, 2023 local time, the Ecuadorian government officially signed a bilateral free trade agreement with China. Ecuador has become China's 27th free trade partner and China's fourth free trade partner in Latin America after Chile, Peru, and Costa Rica.The director of the International Department of the Ministry of Commerce introduced that, in accordance with the concession arrangement, China and Ecuador will cancel tariffs on 90% of each tax item. Among these, about 60% will be cancelled immediately after the agreement takes effect. In terms of specific products, China's implementation of zero tariff products will fully cover the main export products of Ecuador. After the agreement takes effect, when Ecuador's banana, white shrimp, fish, fish oil, fresh flowers, dried flowers, cocoa, and coffee products enter the Chinese market, the tariff will gradually decrease from the current 5% -20% to zero. At the same time, Ecuador will also implement zero tariffs on China's main export products. After the agreement takes effect, when most products produced by China, such as plastic products, chemical fibers, steel products, mechanical appliances, electrical equipment, furniture decoration, automobiles, and components etc., enter the Ecuadorian market, tariffs will be gradually reduced and cancelled from the current 5% to 40%.
CCECH and CICCPS had a discussion exchange
CCECH was founded in 1997 and was headquartered in Guayaquil and a branch in Quito, the capital. The main function of CCECH is to provide information and consultation for enterprises in both countries, promote exchanges between the business community of China and Ecuador, and promote the development of economic and trade relations between the two countries by organizing exhibitions, negotiations, round tables, and seminars. On April 24, 2023, Bin Wang the Vice Chairman of the CCECH and his delegation visited CICCPS for exchange discussion. Both sides held in-depth discussions on economic and trade relations between Ecuador and China, as well as cooperation among chambers of commerce.
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