Ecuador Seeking FTA & Investment Treaty with Morocco

Ecuador has expressed interest in concluding a Free Trade Agreement and an investment Treaty with Morocco to boost partnership between the two countries.

The announcement was made by Ecuador’s Minister of Foreign Trade Investment Luis Alberto Jaramillo Granja following his meeting held Tuesday in Rabat with Minister of Industry and Trade Ryad Mezzour.

The meeting was crowned with the signing of an agreement aimed strengthening trade and encouraging mutual investment.

In his press statement,Mr. Jaramillo Granja highlighted the huge business opportunities offered in his country’s agricultural sector,especially in bananas,shrimp and roses exports.

He expressed his country’s interest in developing partnership with Moroccan OCP group. He also invited Moroccan companies to explore investment opportunities in Ecuador,particularly in the sectors of energy and infrastructure,roads,ports and airports,saying Morocco has very important expertise in these areas.

For his part,Mr. Mezzour said this agreement is a key first step towards advancing bilateral economic relations,saying Ecuador offers many opportunities for Moroccan investors.

He also stressed the role of governments in improving the business climate,calling for lifting tariff barriers. “We need to improve air and maritime routes & links to facilitate trading and exchange between our business communities,” added the minister,noting that the goal is to generate shared growth and create new job opportunities in both countries.