Weekly Report - 03 March 2016 (WR-16-09)

ECUADOR | Growing trade with Mexico. On 24 February Ecuador’s investment promotion agency, Pro Ecuador, released new figures showing that trade between Ecuador and Mexico has been steadily increasing since 2007. The figures, released during the ‘Business and investment opportunities in Ecuador’ seminar organised by Pro Ecuador, its Mexican counterpart ProMéxico, and the Mexico-Ecuador business committee (Comce) in Ecuador’s capital, Quito, showed that bilateral trade increased by 70% in the last 10 years to reach US$700m in 2015. Citing data from Ecuador’s central bank, Pro Ecuador’s report also highlighted that between 2007 and 2014, “Mexico was the country that invested the most in Ecuador”. This was echoed by ProMéxico general director Francisco González Díaz, who said that bilateral investment flows “have mainly increased from Mexico to Ecuador” in recent years as result of closer economic ties. Meanwhile Ecuador’s deputy minister for foreign trade policy and services, Silvana Vallejo, presented 125 investment projects that the Ecuadorean government is looking to promote in the areas of oil, mining, basic industries, petrochemical and steel, electricity, and telecommunications.

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