Ecuador eyes trade deals with China, Russia in bid for investment

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Ecuador is aiming to negotiate trade deals with China, Russia and South Korea in the next four years, the Andean nation's Production and International Trade Minister said on Thursday, adding that closing a deal with the United States is a priority.

The push for free trade deals is part of President Guillermo Lasso's bid to double foreign direct investment to $1.8 billion a year, Julio José Prado said in an interview with Reuters. Lasso, a conservative ex-banker, took office in May after a steep recession due to the coronavirus pandemic.competing for influence

Ecuador signed a precursor to a possible trade agreement with the United States, its largest trade partner, last year. Prado said he was not concerned about any possible conflicts from seeking deals with both Washington and Beijing.

 

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