The measures reduce tariffs and simplify customs procedures.
The President of Ecuador announced measures that facilitate trade and production, simplify trade and investment procedures, and make competitiveness a priority.
Foreign trade and investment policy
The announced measures include:
- Reducing tariffs for imports of goods, especially raw materials, capital goods and supplies
- Simplifying customs procedures and formalities
- Unifying the Ecuadorian legislation and foreign trade standards established through international treaties
- Implementing good regulatory practices
- Reviewing the current requirements for granting licenses, registries, permits and certificates, as well as the requirements for imports and exports
- Reviewing the agreements and regulations on foreign trade operations
- Creating a Reactivation Committee to elaborate on the national competitiveness strategy
Source EY
