Mexico City, February 27, 2015
B. 06 /15
To strengthen the relationship between Mexico and Ecuador and find new routes that enable increased trade between the two nations was the objective of the Seminar “Let’s Talk Business with Ecuador: Internationalization Opportunities,” organized by ProMéxico and ProEcuador, agencies that promote foreign trade and exports between the two countries.
“We are finding new routes and ways to establish ever stronger economic ties,” said His Excellency Alfonso López Araujo, Ambassador of Ecuador to Mexico, in his welcome message to Mexican entrepreneurs seeking to do business with the Latin American country.
In the last ten years trade between Mexico and Ecuador has increased fivefold due to the steady growth of Mexican exports and the good performance of the Ecuadorian economy. Ecuador is currently the fifth most important destination in Latin America and the Caribbean for Mexican investment, which amounted to more than 5.4 billion dollars in 2013.
ProMéxico and ProEcuador signed a collaboration agreement in July of last year to boost reciprocal trade and investment; the agreement also includes the development of activities to promote both markets, and organize business missions and advisory and training events to bring entrepreneurs from the two countries together and encourage strategic partnerships between them.
Ecuador and Mexico also maintain a series of collaboration agreements in order to establish synergies and increase the presence of the two nations in different multi-lateral bodies such as the Ibero-American Network of Organizations for the Promotion of Foreign Trade (Red Iberoamericana de Organizaciones de Promoción del Comercio Exterior, REDIBERO) and the World Association of Investment Promotion Agencies (WAIPA).
Regarding bilateral trade, it is worth mentioning that Ecuador is a supplier of food products such as prepared or preserved fish, cocoa beans, and palm oil; as well as medicines and manufacturing equipment/components. Meanwhile, Mexico exports pipes and hollow structures, tractors, television receivers, cars, and drugs, among other items. The main Mexican companies that maintain presence in Ecuador are América Móvil, Mexichem, Mabe, Arca Continental, and Omnilife, among others.
About ProMéxico — ProMéxico is the Mexican government institution that supports Mexico's trade abroad and the internationalization of Mexican companies, and attracts foreign investment. Mexican business owners have access to a ProMéxico office in their place of origin, both in Mexico and abroad, bringing them closer to their potential buyers. Furthermore, foreign investors can reach every corner of the world through offices strategically located in areas that are key for world trade. For more information go to: www.promexico.gob.mx