Ministers sign roadmap for Ecuador-Panama trade agreement

Ecuador and Panama have taken a preliminary step toward a trade agreement by signing the terms of reference that will guide future negotiations.

Ecuadorian Minister of Economic and Productive Development Sariha Moya and Panama's Minister of Commerce and Industries Julio Moltó signed the technical document during Panamanian President José Raúl Mulino's official visit to Ecuador. The document sets out the framework and mechanisms for negotiating a partial economic complementation agreement, taking into account each country's procedures and production priorities.

The agreement comes as Ecuador reports favorable non-oil trade figures with Panama. Ecuador recorded a positive trade balance in both 2024 and 2025. From January through June 2026, Ecuadorian non-oil exports to Panama totaled $58.1 million, while imports stood at $44.8 million, giving Ecuador a surplus of $13.1 million.

Panama ranked as the 24th-largest global destination for Ecuador's non-oil exports in 2025. Ten main product groups accounted for 75% of shipments, including animal feed, paper and cardboard products, electrical equipment, leather goods, plastics and rubber, wood, industrial machinery and parts, medicines, and plant extracts and oils.

The initiative aligns with the Competitiveness and Productive Investment pillar of Ecuador's Ecuador Growth Agenda 2040. The government strategy seeks to improve structural conditions for competitiveness, open new destinations for Ecuadorian products, and encourage greater complementarity between the two economies.