Ecuador’s president announced foreign trade and investment policy measures

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

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