News

Ecuador: Trade agreement with China will establish a zero tariff for blueberry shipments

Fresh Dragon Fruit
Fruits
China
Regulation & Compliances
Fresh Blueberry
Ecuador
Published Feb 12, 2024

Tridge summary

A new trade agreement between China and Ecuador, set to take effect in two months, will establish zero tariffs for blueberries and dragon fruit shipments to China, and similar conditions for Chinese products entering Ecuador. Despite concerns from environmental groups, the government and business sector anticipate a boost in Ecuador's exports, particularly in key areas such as shrimp, mining products, and agribusiness. China is currently the second most important market for Ecuadorian exports.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

In just two months, the trade agreement between China and Ecuador will come into force, which will establish a zero tariff for shipments of blueberries and dragon fruit to the Asian market. Something similar will happen with products from the Asian nation that enter Ecuador, such as cell phones or machinery. According to the media Expreso, the National Assembly ratified on February 7 with 76 votes in favor, 23 against and 35 abstentions the free trade agreement with the Asian giant. The Minister of Production, Foreign Trade, Investments and Fisheries of Ecuador, Sonsoles García said that the Legislature must notify the president of the approval of the agreement. After the exchange and deposit of the ratification instruments by President Daniel Noboa, it comes into force in 60 days. The trade agreement was approved amid discussions about possible impacts on the environment. In recent weeks, several environmental groups assured that the trade agreement would be negative for Ecuador. ...
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