Ecuador joins EU-Colombia/Peru trade agreement
Published on 16-11-2016
The agreement will eliminate tariffs for all industrial and fisheries products, increase market access for agricultural products, improve access to public procurement and services, and further reduce technical barriers to trade.
Besides the shrimp, salmon, flower, rice and cacao sector, the banana sector is one of the sectors expected to benefit most as their prices will be able to drop beneath the competitor's average. Upon implementation of the agreement, EU exporters will save at least € 106 million in tariffs annually, and Ecuadorian exports will save up to € 248 million in removed duties.
Source: Business News, published by the Dutch Embassy (for Peru, Ecuador and Bolivia)