The document was formalized during the 74th session of the UN General Assembly, by Ecuadorian Foreign Minister Jose Valencia, and his Brazilian counterpart, Ernesto Araujo.
The Agreement seeks to boost and facilitate investment flows between the two nations, recognizing the fundamental role of investment in promoting sustainable development.
To this end, it establishes an institutional framework in favor of investments, conflict prevention and the generation of an agenda to improve cooperation and bilateral investment.
Likewise, it will work to encourage investment, the generation of a friendly environment and the establishment of mechanisms, in order to solve possible differences that could be generated between the sides, within the framework of respect for human rights and taking into account the corporate responsibility of investors.
In addition to signing the collaboration mechanism, the foreign ministers highly valued the strengthening of bilateral trade relations.
They also took advantage of the meeting to support the progress of the preparations for the 4th Meeting of the Ecuador-Brazil Technical Cooperation Working Group, scheduled for the end of 2019, in Quito.
The event aims to address the completion of three projects related to the fight against corruption, comprehensive management and production of tropical fruits and to assess best practices in pharmaceutical laboratories.
Mh/cg/omr/rgh/scm
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