| This paper analyzes the Republic of Ecuador’s national standard system from the aspects of international bilateral trade flows between the People’s Republic of China and the Republic of Ecuador during the period 2001-2019 in the field of International Political Economy.The Republic of Ecuador and the People’s Republic of China have complemented each other in recent years,where one’s needs are supported by the other,managing to strengthen and increase social,political,and economic relations in bilateral trade.This paper aims to use the SWOT analysis method.The analysis of this study will examine factors affecting the bilateral trading relations between the People’s Republic of China and the Republic of Ecuador.The central area of research aims to identify the Strengths,Weaknesses,Opportunities,and Threats resulting from it.Moreover,this paper will analyze aspects of Foreign Direct Investment in the fields of extraction of non-renewable natural resources infrastructure further to understand the dynamics of the Sino-Ecuadorian bilateral relationship.The hypothesis is that the Republic of Ecuador’s substantial financial correlation with the extraction of minerals is the primary source of trade deficit with China.Furthermore,trade flow data sets negatively impact bilateral trade due to the lack of development of the Ecuadorian industry.In the vein of Foreign Direct Investment with mutual benefits,the PetroChina Company Limited-Ecuador project is referred to as an example of bilateral cooperation.In recent years,the People’s Republic of China has strengthened its energy diplomacy in Latin America to cope with the energy crisis.However,as a relatively new actor in the Latin American energy market,the PRC faces many constraints in promoting energy cooperation with Latin America.The Republic of Ecuador,a country with great interest in the PRC’s energy investment,will undoubtedly be an important market for the People’s Republic of China to enter the Latin American energy market.The PetroChina Company Limited-Ecuador project is one of the overseas oil cooperation projects carried out earlier by Chinese petroleum enterprises has achieved considerable economic and social benefits in exploration and development,production,and management.In recent years,various South American countries,including Ecuador,have taken a series of measures to strengthen the control of their oil and gas resources to ensure commodity returns.At the same time,the domestic political and economic situation is also more severe.These factors are complicating Ecuador’s international oil cooperation environment.In the face of the current market situation,PetroChina’s company branch in Ecuador has carried out a targeted risk analysis of its investment environment,studied investment strategies,and formulated corresponding measures.China Petroleum Group and the country’s oil companies based on stable cooperation to expand cooperation. |
