Weekly Report - 21 June 2012 (WR-12-24)

ECUADOR | Raising new import barriers. Ecuador’s production coordination ministry announced on 18 June that it will introduce higher barriers on a number of imported products as well as setting import quotas for them in order to curb their consumption and to stimulate domestic production. According to a ministry statement, Ecuador’s foreign trade committee (Comex), which is made up of various ministries and public institutions, had decided to increase tariffs and impose quotas on a range of imported products such as vehicles, alcohol, mobile phones and other small electronic devices. While the statement did not provide any figures on the new tariffs to be introduced, it did provide information on the quotas on some of the products as well as interesting explanations of the rationale behind Comex’s decisions.

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