New Delhi

India and Ecuador are exploring a preferential trade agreement as both countries move to deepen economic and strategic engagement across a range of sectors, including healthcare, agriculture, digital technology and investment.

According to the Ministry of External Affairs, expanding bilateral cooperation was a key focus during talks held this week between External Affairs Minister S Jaishankar and Ecuador’s Foreign Minister Gabriela Sommerfeld Rosero.

Sommerfeld’s two-day visit to India, accompanied by Deputy Foreign Minister Alejandro Davalos, was described by the MEA as marking a new phase in relations between the two countries.

During discussions held on April 29, both sides reaffirmed their commitment to expanding collaboration in healthcare and pharmaceuticals, agriculture, trade and investment, digital technology, cultural exchanges, capacity building, and cooperation in multilateral institutions.

A notable development during the visit was Ecuador’s formal decision to join the International Solar Alliance and the International Big Cat Alliance, with official letters handed over to the Indian side.

Jaishankar and Sommerfeld also signed a memorandum of understanding under which India will provide grant assistance of up to Rs 12 crore over five years for implementing socio-economic “Quick Impact Projects” in Ecuador aimed at improving local community welfare.

Separately, Sommerfeld held talks with Commerce Minister Piyush Goyal, where both sides discussed a roadmap for a preferential trade agreement designed to boost trade flows and investment opportunities.

The discussions also covered expanding exports of Indian pharmaceutical products to Ecuador and strengthening supply-chain partnerships involving critical minerals such as copper and gold.

Sommerfeld also met Union Health Minister J P Nadda to discuss affordable healthcare solutions and advanced medical systems.

According to the MEA, both sides discussed establishing an institutional technical mechanism, including Ecuador’s possible recognition of the Indian Pharmacopoeia Commission standards to promote regulatory cooperation in medical products.

They also agreed to work toward a formal health cooperation agreement between India’s Ministry of Health and Family Welfare and its Ecuadorian counterpart.