Category: Ecuador 🇪🇨

Ecuador seeks to break out of the labyrinth of oil pre-sales with China

Ecuador is still struggling to divest itself of oil pre-sales. Although there are contracts with the oil creditor companies, the Ecuadorian government is looking for a way to change the situation to its advantage. The business meant a loss of almost US$5,000 million for the country.

China to donate USD 60 million to build 2,932 housing units in Ecuador

On April 11, the Ambassador of the People’s Republic of China in Ecuador, Chen Guoyou, joined the President of Ecuador, Guillermo Lasso, in a special program announcing the delivery of 2,932 houses for people who lost their homes in the earthquake in Esmeraldas and Manabí.

Ecuador terminates contract with China International Water & Electric Corporation

Corporación Eléctrica del Ecuador (CELEC) is a state-owned company engaged in the generation, transmission, distribution, commercialization, import and export of electricity. CELEC completed the construction contract for the civil works of the Toachi Pilatón hydroelectric project, signed on December 24, 2020, with China International Water & Electric Corporation (CWE).

Ecuador and China ratify their bilateral relationship

On March 3, Chen Guoyou, Ambassador of the People’s Republic of China in Ecuador, met with Ecuadorian Foreign Minister Juan Carlos Holguin at the headquarters of Ecuador’s Ministry of Foreign Affairs. During the meeting, the officials reviewed several issues of bilateral and global interest.

Ecuador and China sign cooperation agreement for vaccine production

In February 2022, the Ecuadorian Minister of Health, Ximena Garzón, visited the People’s Republic of China to attend various meetings geared towards strengthening cooperation in the area of public health. Following the visit, the Minister authorized the installation in Ecuador of a factory to manufacture Chinese-made vaccines against COVID-19 and other regular vaccines.

Ecuador and China initiate negotiations for a Free Trade Agreement

Following the visit of Ecuadorian President Guillermo Lasso to Beijing, both governments (China and Ecuador) began negotiations for a free trade agreement.

Ecuador and its close relationship with Chinese pharmaceutical companies

Ecuador’s Health Minister, Ximena Garzón, is part of the delegation accompanying President Guillermo Lasso on his trip to China during the first weeks of February for the opening of the Winter Olympic Games in Beijing. The Ecuadorian minister will attend various meetings aimed at strengthening international cooperation, particularly in the area of public health.

Strengthening ties and debt reorganization

Ecuadorian President Guillermo Lasso made an official visit to the People’s Republic of China in February of this year. The visit will coincide with the winter games in Beijing, and will also serve as an opportunity to discuss political and economic issues.

China donates vaccines to Ecuador

A batch of 500,000 vaccines (500,000) donated by China arrived in Ecuador on October 30 to reinforce the latter’s National Vaccination Plan. The CoronaVac vaccine shipment arrived at Quito’s “Mariscal Sucre” airport.

Ecuador and Colombia to vaccinate the 6- to 11-year-old population with Sinovac

Ecuador started vaccination against the virus for children between 5 and 11 years of age, with Pfizer-BioNTech and Sinovac. In Colombia, the Ministry of Health may initiate the vaccination of minors between 6 and 11 years of age —especially those belonging to vulnerable populations— with the Coronavac vaccine, developed by the Sinovac laboratory.

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