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Ecuador and European Union Seek Trade Renewal Worth $2 Billion

Article Summary:

Ecuador seeks to renew their preferred trading status with the European Union, valued at $2 billion in trade, before it expires in 2013.

Photo Credit: America Economia

Original Article Text From America Economia via Google Translate :

Representatives Of Ecuador Optimistic Of Reaching A Trade Agreement With EU

For Monday’s scheduled meeting of the Ecuadorian delegation in Brussels with representatives of the European Union (EU) in order to achieve the signing of a Trade Agreement. Both employers such as the South American country delegates are optimistic about what can be achieved.

Ecuador seeks to negotiate an agreement, due to expire in 2013 that the country receives benefits in terms of tariffs, for the General System of Preferences (GSP Plus).

The Ecuadorian Federation of Exporters (Fedexport) estimates losses of about U.S. $ 2,000 million for Ecuador in the first three years after 2013, if the authorities do not specify a block according to the old continent.

For example, only between banana, cacao and shrimp, the country hopes to export to the European market more than U.S. $ 1,100 million, according to representatives of these sectors

The Minister of Production, Santiago Leon, who heads the delegation, told Agence Andes, is optimistic about the gains that can be achieved in the meetings to be held with the Foreign Service and the European Economic Commission.

“We have a very clear political will of the Ecuadorian State sit down and negotiate, obviously in conditions favorable to both parties, recognizing the differences in each of the economies,” he stressed.

Also, the official delegation is scheduled to meet with European businessmen, order to propose the position of Ecuador. “We have received knowledge that there are buyers of Ecuadorians who are worried about what is happening.”

Meanwhile, for the president of the Guayaquil Chamber of Commerce, Eduardo Pena, there are favorable conditions for the country to reach a trade agreement with the European market, “in the next twenty months, that agreement should start walking.”

The employer in dialogue with Andes highlighted the importance of the European bloc for Ecuadorian products, because “only in cases of 50% shrimp and bananas with a 40, go to that market.”

“The framework has already been taken because the neighbors (Peru and Colombia) have already signed an agreement and not many things that have to adjust Ecuador to finalize the trade agreement,” said the president of the Guayaquil Chamber of Commerce.

Employers have asked the minister Guayaquil Santiago Leon, who on his return from Europe, we report the details of the meeting in Brussels.

“One of the most important agreements for the country, because Europe is one of the best paying markets for our products,” he said Eduardo Pena.

Link to Original Article:

From America Economia

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