According to the Ministry of Economy, issues such as competitiveness, investment and the agreement with the International Monetary Fund were discussed.
Deputy Head of Economic Affairs for the UK Foreign and Commonwealth Office (FCDO), Nick Lea, and officials from the UK Treasury (HMT) visited Ecuador Approximately on the 7th and 8th of July. to me The Ministry of Economy and Finance, the meetings dealt with topics such as trade, investment, competitiveness and the agreement with the International Monetary Fund..
The embassy indicated that it is seeking to know the economic policy proposals of the government of President Guillermo Lasso and the plans of Ecuador regarding the funding programs it maintains with various multilateral institutions, in which the United Kingdom has representation. This visit comes at a crucial moment, due to the review of the agreement with the International Monetary Fund (IMF) in August. The United Kingdom is part of the board of directors of that body.
The delegation spoke with Luis Fierro, Deputy Minister of Economy; Bernardo Orellana, Undersecretary of the Ministry of Public Finance المالية; Officials from various ministries and economists in the state. He also met my representatives National Agreement Bank for the National Assembly To better understand the political context of the country.
On the other hand, as part of UK action for COP26 On climate change, the UK Treasury delegation (HMT) together with the Ministry of Environment and the Ministry of Economy shared the report “The Economics of Biodiversity”It is an independent report that provides tools to assess the importance of biodiversity to economies and future prosperity. In addition, they introduced the UK’s Green Finance Strategy to encourage venture investment With environmental benefits, including green bond issuance.
Nick Lea also participated in the international forum “The New World Vision Beyond COVID-19”, organized by the Ministry of Production, Foreign Trade, Investment and Fisheries. In this space, Leah shared the UK’s global vision for the economic boom in 2022 and related actions of the UK government for post-pandemic recovery.
In addition, the Chargé d’Affairs at the British Embassy in Quito, Gemma Sykes, explained that the UK intends to strengthen cooperation with Ecuador on issues such as trade and Promote economic development through Trade Agreement that entered into force on January 1, 2021. He also said that it seeks to work to promote the protection of the environment and biodiversity and the promotion of human rights and freedom of the press.
In 2019, the total value of trade between the two countries was 339 million euros, while foreign direct investment from the United Kingdom to Ecuador was 79 million euros. The most exported products from Ecuador to the UK are fish and seafood, with a value of more than $110 million in 2020.