Over the weekend it was learned that Mexico suspended bilateral relations with Ecuador amid the diplomatic dispute. after police forced their way into the Mexican embassy in Quito to arrest former vice president Jorge Glas.
President Andrés Manuel López Obrador, He explained that the event was an act against the sovereignty of Mexico, which is why he decided to break relations with Ecuador.
The Institute for Caribbean Trade Development expressed that “diplomatic difficulties put binational trade at risk.”Jorge Suárez, chief economist of the entity, explained that the movement of almost US$1,000 million a year is at risk. “Although it is not such a large figure compared to other commercial businesses, it does harm several product chains.”
In fact, Mexico last year sold goods worth more than US$680 million to Ecuador, while it imported US$210 million from that country.
“Although Mexico's main trading partners are the US, Canada, Germany and China, Ecuadorians have businesses with trade agreements that date back more than 50 years, That is why the diplomatic relationship is key, behind it is the responsibility of taking care of different companies that have nothing to do with the altercation.”
Heavily armed and wearing balaclavas, Ecuadorian police officers stormed the Mexican embassy around midnight last Friday to arrest Glas, who is wanted on corruption charges. Almost 30 countries have shown their rejection because Ecuador broke a Vienna treaty that protects the land of embassies in the world.
