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Ecuador joins the Chinese initiative of the New Silk Road
Posted On 13 Dec 2018
Ecuadornews:
Ecuador today became a Latin American stop over the New Silk Routes that China plans for the entire planet, the commercial and infrastructure initiative star of Chinese President Xi Jinping, which seeks a global expansion with a friendly face.
With the signing of a “memorandum of understanding for cooperation” on the Strip and the Route between the president of Ecuador, Lenin Moreno, and his Chinese counterpart, the South American country joined this project that has fifteen other supporters in the Latin America and the Caribbean region.
The head of the department dedicated to Latin America in the Ministry of Foreign Affairs of China, Zhao Bentang, confirmed the signing of this and other agreements after the formal reception of Xi to Moreno, on a state visit to Beijing, in the Great Hall of the People from the Chinese capital.
Zhao also stressed that cooperation would be encouraged “for mutual benefit” in the areas of “the construction of infrastructure,productive capacity, agriculture, information technology, new energy and environmental protection.”
The Chinese official said that China intends to “innovate the financing modalities to promote development” of both countries, although he did note laborate.
Currently,Ecuador is immersed in a process of paying its bulky debt to China through the delivery of millions of barrels of oil.
Zhao said that both sides “are going to make an effort to defend multilateralism and improve the system of global governance,” as well as”defend the legitimate rights of developing countries,” at a timewhen China leads bitter trade rivalry with the USA
For his part, Xi said that “China’s financing to Ecuador does not havepolitical conditions”, while he expressed his interest in the LatinAmerican country creating “a good environment for Chinese investors”and presenting “interesting offers”, according to the statetelevision channel CCTV.
The Chinese leader opted for “the exchange in all areas at different levels.”
In this regard, Beijing and the diplomatic and business delegation led by Moreno signed a large number of agreements on matters related to the prevention and management of natural disasters, cultural exchanges, police and judicial cooperation, and civil aviation.
During the meeting, Lenin Moreno called China a “sincere friend” who thanked his participation in the reconstruction work after the earthquake that shookEcuador in 2016 and that caused more than 600 deaths and left thousands ofpeople homeless.
After the meeting, the Chinese leader offered a dinner in honor of Moreno and the rest of the Ecuadorian delegation.
The day began with a wreath at the Monument of the Heroes of the People, in the central Beijing Plaza of Tiananmen, and a visit to the nearby National Museum of China, followed by the meeting between Moreno and Xi in the also adjacent Grand Palace from town.
During his visit, the Ecuadorian president has not escaped the cold of the winter of Pekingese and has constipated, which has led him to cancel the interviews agreed for Thursday with the local and international press, according tosources from the Ecuadorian delegation.
Moreno leads from Tuesday a diplomatic and business delegation in the Chinese capital on an official visit that will conclude tomorrow, Thursday, when the president is expected to visit the Huawei Technology Development Center in the morning.
Several Ecuadorian employees and scholarship holders are currently working at that Huawei plant, a company that, according to the Government of the South American country, “has an interest in increasing its investment in Ecuador.”
On Thursday afternoon, Moreno is scheduled to meet with Chinese Premier Li Keqiangand the chairman of the Standing Committee of the Chinese National People’s Congress (the legislative body), Li Zhanshu, concluding the visit to China. China.
The trip aims to attract Chinese investments to the South American country and encourage Ecuadorian exports to the Asian giant, as well as strengthen bilateral political relations and negotiate Ecuador’s debt with China. (I)
