LatinNews Regional Monitor: Andean Group - 24 April 2018

Ecuador: Colombia’s trade, industry & tourism ministry (Mincit) has revealed that Ecuador has been given ten days by the Andean Community (CAN) trade bloc (comprising Bolivia, Colombia, Peru, and Ecuador) to eliminate its customs tax for CAN member countries. According to the Mincit statement, the tax, which was implemented in November 2017, risks compromising free trade within the CAN, which was agreed in the 1969 Cartagena Act and most affects the automotive, cosmetic, and cleaning-product sectors. Ecuador can request the revision of this customs tax which would give it another 45 days to come up with a solution. In turn, the CAN committee would have a further 30 days to respond to this request.

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