Weekly Report - 10 July 2014 (WR-14-27)

ECUADOR-COLOMBIA | Import credit line. Colombia’s trade minister, Santiago Rojas, announced on 7 July that his government will open a new credit line for Ecuadorean exporters looking to supply products to Colombia. The decision comes amid complaints by Ecuador that its trade balance with its partners in the Andean community of nations (CAN) is being negatively affected by the fact that in recent months its neighbours’ currencies have devaluated against Ecuador’s official currency - the US dollar. This situation has already prompted the Ecuadorean government to introduce certain trade restrictions, which have led the CAN secretariat to consider taking action against Ecuador for violating the bloc’s regulations [WR-14-25].

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