India and Ecuador are taking steps towards finalizing a preferential trade pact. Besides, it has also been agreed to increase cooperation in the sectors of health care, agriculture and digital technology. According to the Ministry of External Affairs (MEA), this week Foreign Minister S. The main focus of the talks between Jaishankar and his Ecuadorian counterpart Gabriela Sommerfeld Rosero were ways to further strengthen bilateral relations. The MEA on Saturday said Foreign Minister Sommerfeld's two-day visit to India, along with his deputy Alejandro Davalos, has opened a "new chapter" in strengthening bilateral relations between the two countries.
The ministry said that in their talks on April 29, Jaishankar and Sommerfeld "reiterated their commitment to enhance bilateral cooperation in a range of areas, including healthcare and pharmaceuticals, agriculture, trade and investment, digital technologies, cultural relations, capacity building and cooperation in multilateral institutions." The ministry said Sommerfeld handed over formal letters to the Indian side, through which Ecuador expressed its commitment to join the International Solar Alliance (ISA) and the International Big Cat Alliance (IBCA). Informed about the decision.
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Jaishankar and Sommerfeld also signed a Memorandum of Understanding (MoU) regarding grant assistance from India to implement 'Quick Impact Projects' (QIPs) in Ecuador. Under this agreement, India will provide grant assistance of up to Rs 12 crore to Ecuador to implement various socio-economic development projects over a period of five years. The MEA said that the implementation of these projects in the identified areas will improve the welfare and quality of life of Ecuador's local communities, thereby promoting development and increasing public confidence.
Sommerfeld also met Commerce Minister Piyush Goyal, and the two leaders discussed a roadmap for a preferential trade agreement (PTA) between the two countries, the ministry said. The ministry further said that the main focus of the discussions was to increase exports of Indian pharmaceuticals to Ecuador and also to partner in the supply chain for critical minerals like copper and gold.
Indian Pharmacopoeia Recognition
Sommerfeld also met Union Health Minister JP Nadda to discuss further bilateral health cooperation. The special emphasis of this discussion was on affordable health solutions and state-of-the-art medical systems. MEA said the main focus of the discussions was to establish an institutionalized technical mechanism to take forward various initiatives aimed at strengthening bilateral relations in the field of medical products. These also include recognition of the 'Indian Pharmacopoeia' (IP) by Ecuador to promote information exchange and regulatory cooperation. MEA also informed that both sides also agreed to enter into an MoU (Memorandum of Understanding) on health cooperation between the Union Ministry of Health and Family Welfare and its counterpart Ministry of Health of Ecuador.
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