MOSCOW (Pakistan Point News / Sputnik - 18th July, 2023) The European Union and Ecuador signed a memorandum of understanding on Monday that seeks to bolster their relations across a broad range of spheres, including energy, in the coming decade.
Ecuadorian President Guillermo Lasso called the deal "historic," while EU foreign policy chief Josep Borrell said the memorandum would take bilateral relations to the next level and make the relationship "more structured."
"The Memorandum of Understanding identifies eight priorities to guide the development of EU-Ecuador relations," including "The promotion of investments for smart, clean, safe and secure links in the digital, climate, energy and transport sectors through the EU Global Gateway initiative," the EU External Action Service said.
The other priorities outlined in the memorandum include security, including cybersecurity, the economic and social agenda, science, development, migration and cooperation on global and regional foreign policy issues, the statement read.
Ecuadorean Foreign Minister Gustavo Manrique, who co-signed the pact on the sidelines of the EU-Latin America and the Caribbean summit in Brussels, said the presence of the country's president at the signing ceremony highlighted the importance that his country gave to the enhancement of relations with the EU.
The EU is Ecuador's third-largest trade partner after the United States and China. Ecuador is also pushing for the EU to grant its citizens visa-free access to its borderless Schengen zone. The memorandum touched on the issue of mobility, and Lasso said on social media that discussions were underway.
