Ecuador ratified agreement with European Free Trade Association

More than 130 Ecuadorian products will be able to enter these markets without tariffs

The President of the Republic, Lenín Moreno, signed Executive Decree 1076 with which he ratifies the trade agreement between Ecuador and Europe. The only article in this document states:

“Ratify in all its content the Inclusive Economic Association Agreement between the Republic of Ecuador and the European Free Trade Association (EFTA).”

Buenas noticias: ratifiqué el Acuerdo Económico entre Ecuador y la Asociación Europea de Libre Comercio (Noruega, Suiza, Islandia y Liechtenstein). Abriremos nuevos mercados para nuestros productos y servicios, también atraeremos inversiones.

>> https://t.co/foHkEAtcRV

— Lenín Moreno (@Lenin) June 25, 2020

On Twitter, the President indicated that the agreement will open new markets for products and services. In addition, it will allow attracting new investments for the country.

This Executive Decree will become effective upon its publication in the Official Registry. In addition, it was stressed that its execution will be in charge of the Ministry of Foreign Affairs and Human Mobility.

The treaty allows more than 130 Ecuadorian products, 54 percent of them food, to enter Europe exempt from tariffs, as well as the import of supplies, medicines, dyes, chemicals, vaccines and capital goods under the same conditions.

Source: Executive Decree 1076 – Prensa Latina