Ecuador'S Minister Of Foreign Trade Went To Geneva To Discuss New Trade Agreements

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Minister Ribadeneira recently arrived in Geneva, Switzerland, hoping to further promote the new trade agreement between Ecuador and the European Free Trade Union (EU).

The European Free Trade Association (EU) is made up of Switzerland, Ireland, Liechtenstein and Norway.

In October this year, Ribadeneira held talks with the Swiss Minister of foreign trade on this matter.

This visit

In addition to negotiations

The main purpose is to extend to the European Union the preferential tariff period for exporting goods to EU products.

Ecuador and the EU agreed on the terms of the trade agreement in July this year, but the official signing is expected to take effect in July next year.

The EU's tariff preferences for goods entering Europe will expire at the end of this year, and the EU can formally approve the extension of the preferential tariff period to the entry into force of the two trade agreements.

Whether the resolution can be passed or not depends on the deliberations of the European Parliament in December 16th.

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Whether the import and export data of the whole year is going down or the trade surplus is increasing significantly, it can be said that it is imported.

This year, the state has also taken some measures to promote trade balance.

Following the executive meeting of the Executive Council of the State Council in September, which put forward the implementation of the positive import promotion strategy, the promotion of balance of payments and the improvement of the level of open cooperation, the general office of the State Council promulgated the "opinions on strengthening imports" in November, and put forward eight measures to further strengthen the import of technology, products and services.

The December 4th meeting of the Central Political Bureau also stressed the need to "optimize the structure of foreign trade, improve the stable export policy, and actively increase imports".

But these measures failed to save bad import data.

In November, China imported 970 billion yuan, a decrease of 6.5%. In November, it imported 10 trillion and 950 billion yuan, a decrease of 0.4%.

Whether in the single month of November or the total amount of the first 11 months, imports are in negative growth.

"Import growth is still somewhat surprising, compared with exports, or very bad.

Mainly because of weak domestic demand, especially the demand for commodities.

Moreover, commodity prices have fallen sharply in the past period, which will drive down the growth of imports.

Zhou Hao, an economist with ANZ bank in China, said.

Li Jian, director of the Institute of Foreign Trade Research Institute of the Ministry of Commerce, said that China's foreign trade fundamentals, especially imports, have not completely improved, and the growth of import and export will remain relatively low in the recent period.

"Although the foreign trade situation of next year is not optimistic, we should not lose confidence and see all kinds of positive factors," he said. For example, the promotion and replication of Shanghai free trade area, the importance of the integration of the Yangtze River economic belt and Beijing, Tianjin and Hebei, the continuous progress of the RMB internationalization process, the vigorous development of cross-border e-commerce, the acceleration of the "one belt along the way" construction, and the enhancement of the implementation of the strategy in the free trade area will bring positive effects.