On August 27, 2003, Premier Wen Jiabao met with President Lucio Gutierrez Borbua of the Republic of Ecuador at Ziguangge, Zhongnanhai.

Wen spoke highly of Sino-Ecuadorian relations. He said that the long history of friendly exchanges between the two peoples reached a new level when the first group of Chinese settled down in Ecuador at the end of the 19th century. China-Ecuador relations scored all-round development since the two countries established diplomatic relations. There have been frequent high-level exchanges and fruitful economic and trade cooperation between them. The bilateral trade volume in 2002 was an increase of 20 times compared with the years before 1980, when diplomatic ties were established. In addition, economic and technological cooperation has developed from being restricted to traditional industries to new and hi-tech industries. Projects aided by China in Ecuador have resulted in good economic and social benefits. The smooth development of China-Ecuador relations has brought concrete benefits to the two countries and peoples. Wen said that both China and Ecuador are developing countries. They need to further reinforce their cooperation in international affairs as well as in developing their domestic economies. The Chinese side attaches great importance to Sino-Ecuadorian relations and is willing to step up friendly cooperation in various fields in accordance with the principles of equality and mutual benefit.

Wen expressed appreciation for the Ecuadorian government's adherence to the One China policy and introduced to the guest China's economic conditions.

Gutierrez said that the Ecuadorian government upholds the One China policy. Over the past more than 20 years since diplomatic ties were set up between them, the two countries have made fruitful achievements in political, economic and trade cooperation. The Ecuadorian people treasure their friendship with the Chinese people.

Gutierrez introduced the Ecuadorian government’s active policy on conducting foreign economic cooperation, and emphasized that Chinese enterprises have rich experiences in oil exploration and exploitation, mining, hydro power generation, especially small-scale hydro power generation. He expressed the wish that more Chinese enterprises would participate in Ecuador's economic construction, and constantly expand the fields of economic and trade cooperation, so as to bring more benefits to the two peoples.