LatinNews Daily - 14 August 2020

* Ecuador’s President Lenín Moreno has signed a trade integration agreement with his Chilean counterpart, Sebastián Piñera, an important step in Ecuador’s process to join the Pacific Alliance trade bloc (which includes Mexico, Peru, and Colombia as well as Chile). The 24-chapter agreement aims to facilitate trade in a number of areas including services, electronic trade, and telecommunications, and also covers issues relating to labour standards, gender, and the environment. The agreement is expected to open up opportunities to micro-, small- and medium-sized firms in particular, with Moreno noting that it should benefit 16,000 workers in the agricultural sector. Moreno celebrated the agreement as an important step for Ecuador’s development and towards it becoming part of the Pacific Alliance. Trade flows between Chile and Ecuador totalled US$2.034bn last year, with Chile being Ecuador’s fourth largest trade partner (Ecuador is Chile’s fifth largest trade partner in Latin America).

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