Representatives of China and Ecuador at the signing ceremony of the trade agreement between the two countries in 2024.
Photo: Ministry of Production, Foreign Trade, Investment and Fisheries of Ecuador.
Ecuador's Ministry of Production, Foreign Trade, Investment and Fisheries announced that on February 14 the country marked a new milestone in its foreign trade with the first export of canned tuna to China, thus strengthening its presence in the world's second largest economy.
In addition, the trade agreement between the two countries, put into effect by the Ecuadorian Government in 2024, allowed Ecuador's tuna to go from paying 5% to 0% tariffs. The measure not only facilitates its entry into the Chinese market but also makes it more competitive.
With this agreement, tuna joins other Ecuadorian products such as coffee, cocoa, bananas and, of course, shrimp, which already have a presence in the Chinese market. Up to 20 companies focused on the production and distribution of Ecuadorian shrimp participated last October in the China Fisheries & Seafood Expo (CFSE) 2024, the largest seafood product fair in the Asian market.
CFSE 2024 is a key platform for connecting Ecuadorian exporters with clients in China. As the world's largest food importer and with 1.4 billion consumers, the Asian giant represents a strategic opportunity for Ecuador.
Indeed, in the last five years, bilateral trade between the two countries has increased by an average of 23% each year, consolidating China as Ecuador's main non-oil trading partner. With this new milestone, achieved this time by exports of tuna, it continues to further that goal.
"The National Government will continue to promote the opening of new markets and the strengthening of Ecuadorian exports, generating more opportunities for the productive sector. These actions not only foster the growth of foreign trade, but also attract investment and create jobs," concluded the release by the Ministry of Production, Foreign Trade, Investment and Fisheries of Ecuador.
Another example of this is the country's participation in the 30th edition of Gulfood, one of the largest food and beverage fairs, being held from February 17 to 21 at the Dubai World Trade Centre in the United Arab Emirates, where, for the first time, Ecuador has an exclusive shrimp pavilion.
Through Ecuador's 'First Class Shrimp' brand, in 2025, the country will also participate in other international fairs in Asia such as World Seafood Shanghai (China), Seafood Expo Asia (Singapore), and, again, in this year's China Fisheries & Seafood Expo, to be held in Qingdao.
