China, Ecuador sign $20 mln deal
ECUADOR: China and Ecuador signed an economic cooperation agreement
Wednesday at the 11th meeting of the Sino-Ecuadorian Mixed Commission of
Economic and Commercial Cooperation.
Ecuadorian Exterior Commerce and Integration Vice Minister Francisco
Rivadeneria and Chinese Vice Minister of Commerce Zhong Shan signed the
agreement on behalf of their respective governments.
Under the agreement involving 20 million US dollars, eight Chinese
companies will import bananas and fish powder from Ecuador.
Zhong, who heads a Chinese business delegation to Ecuador, told
Xinhua that the past few years have seen continuous growth of bilateral
trade between the two countries.
“In 2009, the bilateral trade volume increased to 2.4 billion
dollars, registering a 10 percent increase, making Ecuador China’s 10th
largest trade partner in Latin America,” Zhong said.
He added China hopes Ecuador will further promote business with China
and welcomes Ecuadorian business people to invest in China.
According to Zhong, Chinese investments in Ecuador now amount to 2.2
billion dollars, mainly in infrastructure, communication and energy
sectors.
The members of the Chinese business delegation include such leading
Chinese companies as Sinochem, COFCO Corporation, the China National
Service Corporation, the China Agriculture Development Corporation, the
China National Light Industrial and the China Chengtong Holdings Group
Ltd.
During their stay in Ecuador, the Chinese delegation members also
held talks with 16 Ecuadorian companies in agriculture, cacao, coffee,
timber, fishery and seafood sectors.
According to Ecuadorian Foreign Minister Ricardo Patino, the
Ecuadorian government is willing “to strengthen commercial ties with
China” and welcomes more Chinese investments in Ecuador, citing the
project “Coca Codo Sincalir”, the biggest hydropower plant being built
in the south American country.
Patino said Chinese investment is part of the solid mutual
cooperation between Ecuador and China, adding that China “respects our
dignity as a country ... our ties are that of brother countries.”
Quito, Thursday, Xinhua |