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Ecuador wants to speed up trade agreement with EU

Staff writer |
Colombia and Peru are still expected to give Ecuador the green light for the signing of its trade agreement with the European Union (EU).

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In this regard, the Minister of Industries, Eduardo Egas, said that the lack of support from the two Andean countries has not stopped the agenda. Proof of this is that the European Parliament has approved to continue taking the remaining steps.

He said they have spoken with the Peruvian and Colombian so that their approval can be obtained as soon as possible.

Meanwhile, Ecuadorian banana producers are concerned, because they pay higher tariffs in the EU than Colombia, which for now makes Colombian bananas more affordable.

As a result, Ecuador fears that the lack of a trade agreement could result in its neighbouring country taking market share from them in the EU. Egas pointed out that Ecuadorian banana growers knew that at first there would be an inequality in tariffs compared to what Colombians pay.

The Minister called for the sector to remain calm.

"In the end, we will have the same tariff as Colombia and Peru. There can be no doubt that the trade agreement with the EU will become effective," he said.

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