What is the latest signed free trade agreement by Ecuador?

A trade agreement between Ecuador and the United Kingdom entered into force. From January 1, 2021, the exportable offer from Ecuador enters without paying tariffs to the United Kingdom. The agreement was signed in May 2019.

The Minister of Foreign Trade, Iván Ontaneda, reported that the trade agreement between Ecuador and the United Kingdom entered into force as of January 1, 2021.

According to Ontaneda, the agreement allows 95% of the country's exportable offer to enter British territory without paying tariffs.

With the validity of the agreement, Ecuador maintains the tariff preferences that were reached with the United Kingdom, when this country was part of the European Union (EU).

Precisely the commercial instrument entered into force on the same day that Brexit was consummated or the United Kingdom left the EU.

On the other hand, in 2019 Ecuadorian exports to the British market represented USD 166.1M. Bananas are the most demanded product, according to information from the Central Bank.

Source: Acuerdo comercial entre Ecuador y Reino Unido entró en vigencia