Ecuador presented the ‘Open for Business’ in China

In the city of Xiamen and within the framework of the fair “China International Fair for Trade & Investment (CIFIT) 2022”, the Ecuadorian investment forum “Ecuador Open for Business” was held. The event was organized by the Ministry of Production, Foreign Trade, Investments and Fisheries through the Commercial Office of Ecuador in Canton, with the support of the Embassy of Ecuador in China and the Chinese Council for the Promotion of International Trade (CCPIT) Xiamen.

The main objective of this forum was to present and highlight the incentives and benefits for foreign investment in Ecuador, as well as to present the portfolio of projects that our country maintains.

During the event, more than 40 Chinese business groups were present, including representatives of associations, chambers of commerce and senior executives of companies with investment potential in Ecuador and interested in learning more about the country’s investment environment.

The Ambassador of Ecuador in China, Carlos Larrea, was the authority that initiated the relevant activity, emphasizing the excellent diplomatic and commercial relations between both countries. This has allowed China to become Ecuador’s first trading partner as of May 2022, thanks to the continuous supply of high-quality products such as: shrimp, bananas, raft, among others.

Similarly, he highlighted the fact that Ecuador will be the host country of the 15th China Business Summit – LAC “China Latin American and the Caribbean Business Summit”, which will take place in December 2022, Guayaquil, and which will become in a regional platform for important economic and commercial exchanges.

In turn, the director of the Commercial Office of Ecuador in Canton made the presentation of the country’s business climate and the important incentives on taxes, special economic development zones, infrastructure, investment contracts, macroeconomic figures, public-private projects, among other aspects of interest of Ecuador for foreign investors. 

Additionally, details of several of the main productive and industrial sectors prioritized by the government and with high investment potential were presented, such as: agribusiness, logistics, aquaculture, energy, mining, etc.

As part of the agenda, the testimonies of two Chinese companies that do business in our country were shared: the company Super Latin Tourism Agency, which represents a tour operator focused on the promotion of first-class South American destinations such as the Galapagos Islands. His representative highlighted the beauty of Ecuadorian landscapes and the warmth of its people.

The Shanghai Goodfarmer Group company, which is positioned as the main importer of Ecuadorian bananas to the Chinese market. His representative explained the quality of Ecuadorian products and the development of industries, such as the banana industry, in recent years; this being one of the main reasons why the Chinese company has decided to establish an operations office in our country.

The numerous opportunities to invest have made Ecuador one of the places with the greatest potential for Chinese investors within the South American region. Ecuador continues to make successful efforts to attract foreign investment, where practically all sectors of the economy present opportunities and incentives for those companies that wish to expand their operations in Latin America.