China-South America 22 Mar
We are pleased to inform you about the webinar “China-Ecuador economic trends” organized by RsA Asia and the law firm Villagran Lara Attorney held on March 22nd 2022.
The webinar covers the business trends between China and Ecuador, as well as other South American countries. Participants will learn about the different economic partnerships between the countries and then applying this understanding to the trade agreements, trade facilitation and investment flows between countries.
In 2021, the total bilateral trade between China and Ecuador reached 10.95 billion USD, a year-on-year increase of 44.5%. China has become Ecuador's second largest trading partner for two consecutive years.
China has already signed a number of FTAs and DTAs with South American countries: the first FTA between China and South American countries is China – Chile FTA, it was signed on 18 Nov 2005. China – Peru FTA was signed on 28 April 2009, now China and Peru are negotiating about the FTA update. On 9 July 2018, on the first anniversary of the establishment of diplomatic relations between China and Panama, China and Panama signed an MOU, announcing the official start of FTA negotiations.
On 5 Aug 1991, China signed the Double Tax Agreement (DTA) with Brazil, it’s the first DTA between China and South American countries. Then China signed DTA with Venezuela on 17 April 2001, with Ecuador on 21 Jan 2013, with Chile on 25 May 2015. China also signed the DTA with Argentina on 2 Dec 2018, that is not yet effective.
During the event the representatives of RsA Asia and Villagran Lara Attorney have signed a Memorandum of Understanding (MoU).