*Ecuador’s President
Daniel Noboa has said that the signing of a free trade agreement (FTA) with Canada on 24 July was
“a great victory for Ecuador” that will
“open the doors of one of the main consumer markets of our exports”. According to a government social media post issued yesterday, 99.6% of Ecuadorean exports will enter Canada with zero tariffs, which will boost the competitiveness of over 600 Ecuadorean products in Canada and is expected to result in a 10% increase in exports. The FTA includes protections for sensitive Ecuadorean agricultural sectors including rice, maize, milk, meat, and sugar. According to Ecuador’s ministry of production, foreign trade, and investment, 88% of Ecuador’s export value to Canada already entered the country tariff-free. The FTA eases tariffs for many remaining products such as flowers, tuna, juice, palm oil, and chocolate.
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