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Mexico suspends FTA negotiations with Ecuador

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(VOVWORLD) - Bilateral trade between Mexico and Ecuador began to be caught up in a spiraling diplomatic crisis after Mexican President Andrés Manuel López Obrador announced on Monday he was suspending the negotiation of a Free Trade Agreement between Mexico and Ecuador. 

Mexico suspends FTA negotiations with Ecuador - ảnh 1Mexican Embassy staff in Ecuador leave the embassy to return home, April 7, 2024. (Photo: AFP/VNA)

Gerardo Tajonar Castro, President of the National Association of Importers and Exporters of the Mexican Republic (ANIERM) said this was the first trade-related reaction after the Mexican government announced the severance of diplomatic relations with Ecuador.

ANIERM said that in 2023 Mexico's export turnover to Ecuador was 600 million USD, including pharmaceuticals, cosmetics, machinery, mechanical equipment, electronic equipment, and automobiles.

Ecuador exported to Mexico 230 million USD worth of goods in 2023, mainly agricultural products such as cocoa beans, bananas and shrimp.

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