September 30, 2022

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In Ecuador, exports to the EU rose 21% in 5 years of trade agreement

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Exports from Ecuador to the European Union (EU) have increased by 21% since the trade agreement with the European bloc entered into force 5 years ago, while the trade surplus has grown in favor of Ecuador by 85%.

This Thursday, this was emphasized in Quito by the EU ambassador to Ecuador, Charles-Michel Geurts, during the first of the 4 conferences between the public and private sectors that will be held in the country to commemorate the five years of operation of this treaty. commercial.

Ecuadorian exports to the European Union between 2017 and 2021 went from 2,831 million euros to 3,439 million euros, which represents an increase of 21%, according to data offered in a statement by the EU delegation in Ecuador.

Likewise, Ecuador has had a trade surplus in its exchange with the EU of 4,650 million euros in these 5 years, with an increase of 85%, going from 728 million euros in 2017 to 1,350 million euros in 2021.

Geurts indicated that “the complementarity and recognition of our development asymmetry as trade partners through a supply-demand characterized by agro-industrial products by Ecuador and manufacturing products by the European Union is confirmed.”

He added “This strengthening of our trade relations has managed to overcome the serious international challenges that have had a great impact in the commercial, economic and social spheres, such as the unprecedented covid-19 pandemic or the brutal Russian aggression against Ukraine.”

The EU Delegation in Ecuador recalled that the trade agreement is also “a fundamental pillar of the bilateral relationship to strengthen small producers in their adaptation to the new sustainable, green and inclusive production and development models that are being developed at the such as the Green Deal and the Farm to Fork strategy”.

The bet is about strengthening multilateralism and global trade rules to face the great challenges that currently arise, such as climate change, poverty and sustainable production and consumption models.

The new open, sustainable and strong European Union trade strategy aims to contribute to economic recovery by supporting green and digital transformations.

It is a commitment to strengthen multilateralism and global trade rules to face the great challenges that currently arise, such as climate change, poverty and sustainable production and consumption models.

In the period 2017-2025, the EU allocated a total of 56 million euros of non-reimbursable funds (19 million in executed projects and 37 million in current projects and technical assistance) to support the productive sector in projects that promote production and exports sustainable.

These projects are carried out with partners such as the Export and Investment Promotion Corporation (Corpei), the Ecuadorian Federation of Exporters (Fedexpor), the International Trade Center (ITC) and the Rikolto organization.

This Thursday the first of the four conferences organized by the Delegation of the European Union in Ecuador, the accredited Euro Chambers in the country and the embassies of the member states was held in Quito to analyze the results of the trade agreement and seek better use.

After Quito there will also be similar meetings between the public and private sectors in Cuenca on September 20, in Guayaquil on September 27 and in Manta on October 5.

Information will be provided on the tangible benefits between the parties in terms of trade, investment and social and economic development, as well as useful tools to understand and benefit from trade relations. Posted by Iraic.info, a news and information agency.

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