From 28 July, representatives from the Ecuadorian government will hold meetings with their counterparts in Nicaragua.
The trade agreement, which has been under negotiation for a year, seeks to encourage "trade complementarity", said Pablo Porras from the Ecuadorian embassy in Managua.
An aricle in Prensalibre.com includes statements by the official: "Ecuador is interested in selling to Nicaragua pharmaceuticals, electrical appliances, cookers, washing machines and irons, as well as ingredients for poultry and livestock feed, said the diplomat. In exchange, Ecuadorians are willing to open their market to meat, coffee, textiles, handicrafts and some raw materials produced by Nicaragua."
The countries expect to sign a trade agreement in November in order to complement each others markets.
In the first round of negotiations held in Quito, Ecuador, the main subjects of mutual interest were analyzed. The second round of talks is scheduled for October in Managua, Nicaragua.
MisFinanzasenlinea.com reports part of a communication by Ecuador's Ministry for Foreign Affairs: "Ecuador's aim with these negotiations is to set up favorable conditions for the country's value-added products and include special treatment conditions for MSMEs (micro, small and medium sized enterprises)".
The negotiations were opened in Managua with delegations present from both governments.
Seven rounds of negotiations are planned due to culminate in June 2011.
The free trade agreement (FTA) with Ecuador seeks to, "build closer commercial ties between the two nations," said the Nicaraguan president, Daniel Ortega.
"The main products Nicaragua exports to Ecuador are denim fabrics, corrugated paper or card, rum and sugar cane liquors," reports Lajornada.