Relations between Ecuador and the EU have grown through the Political Dialogue and Cooperation Agreement signed in 2003 with the Andean Community. Currently, both parties are negotiating a trade Agreement to improve access to their markets.
Relations between the European Union (EU) and Ecuador have intensified in recent years within the 2003 Political Dialogue and Cooperation Agreement, which underpins relations between the EU and the Andean Community (CAN), consisting of Bolivia, Colombia, Ecuador and Peru.
This agreement has led to qualitative progress in the depth and scope of the relations between both parties, including new areas of interest, such as combating illegal drugs, regional integration and the promotion of sustainable development in the Andean region, among others.
Dialogue has also been strengthened by the extensive framework of regional relations between the EU and the Community of Latin American and Caribbean States (CELAC), of which Ecuador is a member.
In the Cooperation Framework Agreement, signed in 2001, the EU and Ecuador outlined the financial and technical aid that the European Commission would give to Ecuador. This agreement defines the required legal and technical framework for the development of the cooperation and is reinforced by the Memorandum of Understanding which both parties signed in 2007 and which established the priorities.
The strategic policy dialogue areas, established in the Multiannual Indicative Programme 2014-2017, are as follows:
- Economic diversification;
- Driving and diversifying trade;
- Poverty, inequality and exclusion;
- Inclusive growth and stability;
- Democracy and Human Rights;
- Regional integration, key international role.