Trade agreement with the US ‘on the right track’, says Daniel Legarda, Deputy Minister of Foreign Trade | Economy | News

Abigail Brewer 3 years ago 3 min read

Legarda is optimistic and stresses that the opportunity will “open up” and that even its occurrence indicates that it is important for the country to be prepared.

Deputy Minister of Foreign Trade, Daniel Legarda, said that relations with the United States are going through an “excellent moment” at the political, commercial and other levels, and expressed great optimism that the country will reach a trade agreement.

And this enthusiasm of Legarda is The approaches that the country has maintained with the United States, such as the recent meeting between President Guillermo Lasso and several ministers with Republican and Democratic senators from the United States. To strengthen bilateral relations in the issues of safety, vaccination and Reactivation.

We have visited six Senate delegates from different committees to discuss various issues in the relationship with the United States. The goal of a comprehensive trade agreement is on the right track, and we continue to make efforts at the highest level. We are sure that this goal will be achieved, we do not have time… But we are sure that there will be an opportunity that will open up, ”says Legarda.

Revival of the intention to sign a trade agreement between Ecuador and the United States

And if that moment comes, the Deputy Minister of Foreign Trade points out that Ecuador must be willing to show security and confidence, but it must also be careful.

“It is pointless as a country to fight with countries where investment comes from a small country’s desire to adjust international investment rules. If you want change, you have to influence from the field and from within and that is what this government wanted to do by going back to ICSID (the ICSID Agreement). between states and citizens of other states). To be clear, If we want more companies to invest to generate more jobs, we need clear rules. You have to be careful, the country has to work with seriousness and confidence.”

As part of the work between the two countries, the Ministry of Production, Foreign Trade, Investments and Fisheries, according to Legarda, works with the United States on various committees on environmental standards and work projections under a trade relationship.

Legarda made the remarks during the Business Future of the Americas Presentation (BFA), organized by the Amcham Guayaquil American Chamber of Commerce and with the endorsement of the United States Embassy and Consulate in Guayaquil and the participation of the Ministry of Production; Corporation for the Promotion of Exports and Investments (Corpei); and the Inter-American Development Bank (IDB).

Ecuador launched in Washington the official roadmap for signing a trade agreement with the United States.

The conference will take place on July 13, 14, and 15 virtually and plans to bring together more than 400 high-profile CEOs from the United States, Latin America, and the Caribbean. There will be Juan Sebastian Gonzalez-Roman, special assistant to US President Joe Biden.

This event will provide new business and investment opportunities for different sectors such as agriculture, logistics, creative industries, textiles, hotels and tourism, among others. There will be conferences, trade fairs and networks. Some accesses will be free and another cost will be. (I)