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India-Ecuador eye preferential trade deal to boost economic ties

Ecuador’s Foreign Minister held key meetings in India to strengthen cooperation in trade, healthcare, technology, culture, and development projects between both nations

New Delhi

Ecuador’s Foreign Minister Gabriela Sommerfeld Rosero completed a two-day official visit to India, aimed at strengthening relations between the two countries across several sectors.

The visit began on April 29 and included discussions on trade, healthcare, agriculture, digital infrastructure, and investment opportunities.

Sommerfeld met External Affairs Minister S Jaishankar, and both leaders agreed to increase cooperation in healthcare, pharmaceuticals, agriculture, trade, technology, cultural exchanges, and multilateral organisations. During the meeting, Ecuador officially submitted letters confirming its decision to join the International Solar Alliance and the International Big Cat Alliance.

India and Ecuador also signed a Memorandum of Understanding for Quick Impact Projects. Under the agreement, India will provide grant assistance of up to Rs 12 crore over five years for socio-economic development projects in Ecuador. Officials said the projects are expected to improve living standards and support local communities.

The Ecuadorian Foreign Minister later met Commerce and Industry Minister Piyush Goyal. Discussions focused on creating a roadmap for a Preferential Trade Agreement between the two countries. Both sides also discussed increasing Indian pharmaceutical exports and strengthening partnerships in minerals such as copper and gold.

Sommerfeld also held talks with Union Health Minister JP Nadda regarding affordable healthcare solutions and medical cooperation. Both countries agreed to work on an MoU for health cooperation and discussed recognition of Indian Pharmacopoeia standards in Ecuador.

Sommerfeld visited AIIMS’ Jan Aushadhi Kendra, explored India’s digital systems, paid tribute at Rajghat, attended an industry meeting, and highlighted growing India-Ecuador relations after India opened its Quito embassy.

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