LatinNews Daily - 18 May 2022

In brief: Updated Ecuador-Chile trade agreement takes effect

* Ecuador’s foreign ministry has announced that an updated trade integration agreement with Chile has come into force. The agreement, which the two countries began negotiating in 2019, will expand and update an existing accord to further facilitate bilateral trade and labour relations. In particular, the agreement addresses sectors such as e-commerce, telecommunications, public procurement, and the services industry. Chile and Ecuador have also included measures for greater cooperation in establishing improved conditions and rights for women, small and medium-sized enterprises (SMEs), the environment, and workers. Ecuador’s foreign ministry signalled that the implementation of this agreement will also serve to “bring the country one step closer to securing Ecuador’s membership in the Pacific Alliance” trade bloc comprising Chile, Mexico, Colombia and Peru – a key goal for Ecuador’s President Guillermo Lasso. To date over 90% of trade between Ecuador and Chile is liberalised, according to Ecuador’s ministry for production, foreign trade, investment and fishing.

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