Ecuador seeks to resume trade talks with EU

2013-04-26 03:33:34 GMT2013-04-26 11:33:34(Beijing Time)  Xinhua English

QUITO, April 25 (Xinhua) -- Foreign Minister Ricardo Patino said Thursday Ecuador will seek to resume talks with the European Union (EU) on a trade deal to boost mutual benefits.

The talks over a Trade Agreement for Development is estimated to resume in September, after negotiations broke down over disagreements on sensitive issues, Patino told reporters.

Ecuador is not looking for a free trade agreement as it could have negative effects on several sectors of the South American country due to economic disparities between the two sides, but a deal that benefits both sides, Patino said.

"This was made perfectly clear by the president during the trip we made to Europe," the minister added.

President Rafael Correa expressed his willingness to reach a trade agreement with the 27-state EU last week when he visited Germany, Italy and Spain, accompanied by Patino and a delegation of businessmen.

Correa said he was confident that once the negotiations resumed, a more flexible trade agreement could be reached despite remaining obstacles, such as public-sector purchases and technological unbundling.

The Ecuadorian business community expects the trade deal to be reached by the beginning of 2015.

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