China calls for further economic cooperation with Ecuador

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00:28

China welcomes Ecuador to jointly build the Belt and Road and to promote cooperation between the two sides in infrastructure, agriculture, information technology, new energy, and environmental protection, Chinese President Xi Jinping said on Wednesday while meeting with Ecuadorean President Lenin Moreno Garces at the Great Hall of the People in Beijing.

China welcomes Ecuador to explore the country's market actively and to share the developing opportunities with China, Xi added.

The president said that China's financing cooperation with Ecuador is based entirely on equality, mutual benefit and business principles, with no political strings attached.

Xi added that China would continue to support Ecuador in post-earthquake reconstruction and disaster prevention and mitigation.

China wishes Ecuador to create a good investment environment for Chinese enterprises and the Chinese government requires Chinese-funded enterprises in Ecuador to abide by local laws and regulations and compete fairly by their own strength, Xi said.

"I paid a state visit to Ecuador in 2016 and the two countries established a comprehensive strategic partnership," Xi said, adding that a healthy and stable relationship between the two sides is in line with the trend of peace, development, and win-win cooperation.

Moreno responded that China is a true friend of Ecuador and hailed that China provided valuable support and help to the development of the country.

The China-proposed Belt and Road Initiative is an important public product for the world and Ecuador is willing to take an active part in the building of the initiative, he added.

Ecuador will expand export to China and host the China-Latin America and Caribbean (LAC) Business Summit, he said.

The two leaders then witnessed the signing of a Memorandum of Understanding (MOU) to jointly advance the construction of the Belt and Road Initiative and other bilateral cooperation agreements.