Ecuador will sign new investment agreements

Ecuadornews:

Next Friday, June 15, new investment agreements will be signed for more than $ 4,000 million. This was announced by the Minister of Foreign Trade and Investment, Pablo Campana, last Monday at the inauguration of the Capital Investment Month in Ecuador (MIC-2018).

This initiative, organized by the Alliance for Entrepreneurship and Innovation (AEI), is aimed at strengthening the financing ecosystem in the country and developing a culture of risk investment.

In the framework of the event, Campana said that so far this year two investment contracts were signed for $ 879 million in total ($ 519 million and $ 360 million each). He did not specify to what areas the capital will be allocated.

However, he noted that there are several interested sectors, such as industrial, real estate, export, commercial, tourism, agriculture “without counting the mining and oil that are our strength,” he said. He added that from the state portfolio he directs, $ 15 billion of foreign investment is expected in the next five years. Last year the country received $ 605 million and in 2016, $ 735 million.

“They can say that I am crazy and I am very optimistic, but the Ecuadorian potential in investments (…) is $ 42,000 million.” The holder of the Foreign Trade portfolio insisted that the country should focus on the diversification of markets and in that line, he recalled that it works firmly with the Andean Community (CAN) and with the European Union (EU). Also, as part of the Ministry’s agenda is to have a commercial agreement with Mexico.

He announced that on June 18 he will meet with his Mexican counterpart and for next month Ecuador will participate as a guest at the Summit of the Pacific Alliance (Mexico, Chile, Peru and Colombia) in that territory.

Another point on the agenda is to strengthen relations with the United States and negotiations are expected to start in the second half of the year: “Luckily, President (Donald) Trump has said he is not a supporter of free trade agreements (FTA), but of fair bilateral trade agreements, “Campana said. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/ecuador-convenios-inversion-comercio