Chinese, Ecuadorian Presidents Hold Talks

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Last updated at: (Beijing Time) Thursday, March 21, 2002

Chinese, Ecuadorian Presidents Hold Talks

Chinese President Jiang Zemin said Wednesday he is satisfied with the development of relations between China and Ecuador. During his talks with visiting President Gustavo Novoa Bejarano of the Republic of Ecuador, Jiang said the two countries are already cooperating in the field of high and new technology.

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Bi-Cooperation Satisfactory: Jiang

Jiang said trade and economic and technical cooperation between the two countries has grown rapidly in recent years. Two-way tradehas maintained a steady growth and the two countries have already achieved results in economic cooperation.

He said the Chinese government places great importance on the development of trade and economic links with Ecuador and holds a positive attitude towards mutually beneficial cooperation.

He expressed his hope that both sides will work together to achieve further progress in bilateral cooperation in trade, economics and technical cooperation.

Jiang expressed appreciation for Ecuador's adherence to the "One China" policy. He said the two countries have maintained excellent cooperation in international affairs.

Ecuador Willing to Strengthen Links with China: Novoa

Gustavo Novoa Bejarano said that China and Ecuador are friends. He said the Ecuadorian government is willing to continue strengthening political and economic links with China.

Novoa hoped China will increase investments and participate in the construction of harbors and airports in his country.

He also reiterated Ecuador's stance of adhering to the "One China" policy.

Long-term, Stable and Mutually Beneficial Expected

Jiang said in recent years, political links and economic cooperation between China and the Latin American countries has expanded. He said China and the Latin American countries share the same goals for development which is the basis for cooperation and have a great potential for expanding their cooperation.

Jiang said China is willing to further strengthen cooperation with the Latin American countries and to work together with them to establish long-term, stable and mutually beneficial relations in the 21st century.

Ceremony for Joint Singing of Three Documents Held

After the talks, the two presidents attended a ceremony for joint signing of three documents. The documents were an agreement on economic and technological cooperation between the governments of the two countries, an agreement on cooperation between the China international economic and trade arbitration committee and the Ecuadorian-Chinese chamber of commerce and an agreement of cooperation between diplomatic academies in the two countries.

China and Ecuador

I, Political Relations

On 2 January 1980, the People's Republic of China and the Republic of Ecuador formally established diplomatic relations. In July of the same year, China set up its embassy in Ecuador. In July 1981, Ecuador set up its embassy in China.

Since the establishment of diplomatic relations, Sino-Ecuadorian relations have been advancing smoothly. The two sides maintain high level political contacts and their exchanges in the areas of trade and economy, science and technology, culture and education grow steadily. In international affairs, the two countries understand and support each other.

II, Trade and Economic Relations

Early in 1975, the two governments signed a trade agreement. Since the establishment of diplomatic relations, the bilateral trade and economic relations have made new headway. Chinese main import items from Ecuador include banana, lobster and fish meal, and its main export item to Ecuador include light industry products, industrial and agricultural tools and mechanical equipment. Through common efforts, the two-way trade has soared from several million US dollars in the 1980s to over ten million US dollars in the 1990s. In 2000, the bilateral trade volume was 155 million US dollars, among which 74.87 million US dollars was Chinese export and 80.13 million US dollars was Chinese import.

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