2024-07-30 11:03:16
Positioning the country as an attractive investment destination was the objective of the First International Summit of Free Trade Zones, which was inaugurated by Katya López, president of the Ecuadorian Federation of Customs Agents (FEDA) and Otto Guerrero, director of Expo Sumat, on July 3 at the Metropolitan Convention Center of Quito.
During her speech, the president of the FEDA highlighted that “The Free Trade Zone regime provides the country with a series of tax and investment incentives for companies that decide to obtain a concession and operate under this regime. This is an area of Ecuadorian territory where the production of technology, agro-industry, logistics services, among other activities, can be enhanced, with the aim of exporting products abroad, generating sources of employment, thanks to national and foreign investment.
The meeting was attended by international and national experts, who shared experiences and good practices on Free Trade Zones. Also present were government authorities and representatives of the public and private sectors, as well as the ambassadors of the Dominican Republic and Uruguay.
In the panel “The Free Trade Zone Regime in the Region,” Ingrid Magnolia Díaz, former director of the National Tax and Customs Directorate (DIAN) of Colombia, highlighted the importance of Free Trade Zones as development and job creation hubs, as well as their role in the internationalization of the economy. She also mentioned the key aspects that the neighboring country experienced, such as the transfer of foreign trade processes to the private sector and the development of efficient systems.
Eduardo Rodríguez, advisor at the General Directorate of Customs of the Dominican Republic, explained the capacity of the Free Trade Zones in his country to contribute to economic growth, despite being a smaller territory than Colombia, with an area of 48,442 km². However, it has more than 665 companies within the free trade zones, which generate the largest number of direct jobs in the country.
For his part, Julio Martínez, Commercial Manager of the Parque de las Ciencias Free Trade Zone in Uruguay, pointed out the fiscal and infrastructure benefits and the regulations necessary to operate in these areas; as well as the importance of state guarantees for investors and the need for a flexible policy that can be adapted to global realities. Finally, he made a prospective analysis of the challenges and opportunities that Ecuador would have, highlighting the potential of free trade zones for the country’s economic development.
Within the framework of the meeting, the national exhibitors made important contributions in the panels “Legal Analysis of the Tax, Investment and Customs Regime” and “Special Economic Development Zones, ZEDE”. In addition, they congratulated the FEDA initiative to organize the First International Summit of Free Trade Zones, with the presence of prestigious international specialists.
The objective of this meeting was to promote a space to analyze and debate the latest legislation on Free Trade Zones and how it can benefit the creation of goods, services and commercial activities.