After Angola, Ecuador is expected to negotiate and sign a Sustainable Investment Facilitation Agreement (SIFA). On Monday 10 November, the European Commission announced that it was opening negotiations for such a partnership with this Latin American country.
The investment agreement will complement the trade agreement between the EU and the Andean Community. The SIFA aims to promote European investments that benefit sustainable development in Ecuador, particularly in renewable energy, digitalisation, agriculture, transport and logistics. To do so, it must, in particular, simplify authorisation procedures. It also involves strengthening dialogue between investors and other stakeholders, while ensuring compliance with environmental and social standards.
European investment in Ecuador is already high, reaching €8 billion in 2023, making the EU the country’s biggest trading partner. (Original version in French by Léa Marchal)