In an environment of collaboration and constructive dialogue, Ecuador and Canada have successfully completed their IV Round of negotiations, marking a significant milestone in the advancement of their bilateral relations. This meeting, which took place in person in Quito, from October 21 to 25, has allowed us to establish a more solid framework for economic and commercial cooperation between both countries.
The round of negotiations focused on the continuation of dialogues on the 26 disciplines addressed by this new generation agreement, whose objective is to promote commercial exchange, facilitate investments, promote sustainable development, and diversify our economy.
A new generation trade agreement offers multiple advantages, highlighting the promotion of inclusive and sustainable trade, as well as the elimination of tariff and non-tariff barriers that limit access to markets. This type of agreement not only facilitates the exchange of goods and services, but also encourages the generation of higher levels of protection in environmental and labor matters, promoting innovation and competitiveness among the signatory countries.
Another of the chapters addressed was that of indigenous peoples seeking to achieve cooperation mechanisms in this matter. In addition, it encourages cooperation and allows local companies to access new opportunities and resources, thus benefiting the economy as a whole and generating quality jobs.
During this IV round of negotiations, the text of the chapters on Telecommunications, Electronic Commerce, Gender, Trade Facilitation and Dispute Resolution was closed; those that are added to those already agreed in previous rounds: Good Regulatory Practices, MSMEs and Competition. Likewise, significant progress was achieved in all working groups, which reflects the commitment of both parties to reaching a beneficial and sustainable agreement.
This progress not only demonstrates the political will of Ecuador and Canada, but also lays the foundations for a more robust cooperation framework that promotes economic and social development in both territories. Following the process, the next round of negotiations will take place in Ottawa, from December 9 to 13. This will continue to refine the details of the agreement between the negotiating teams.
