According to Ecuador Times, Ecuador's President Guillermo Lasso said on January 3 (Tuesday) local time that he had reached a free trade agreement with China. Through this free trade agreement, Ecuador exported to China. Products will receive preferential tariffs.

After the China-Ecuador Free Trade Agreement takes effect, as many as 99% of Ecuador's current exports to China will enjoy preferential access. The beneficiary products are mainly agricultural and agricultural products, such as shrimp, bananas, roses and flowers, cocoa, coffee, etc. Including non-traditional Ecuadorian agricultural and agro-industrial products such as dragon fruit, pineapple, mango, blueberry, quinoa, processed food, fresh and canned fruit.

The Ministry also stated that the trade agreement with China protects Ecuador's agricultural and industrial sectors through long-term tax relief and exclusion clauses on the one hand, and reduces the production costs of Ecuador's industry through tariff-free access to raw materials, tools, and equipment on the other hand, and will provide a significant contribution to Ecuador. Consumers are offered a greater variety and high-quality products.