2023-10-13 16:02:04
Ecuador and South Korea have complementary economies, explains Daniel Legarda, Minister of Production. He said this within the framework of the pre-signing of the trade agreement between the two countries.
In an interview with EcuadorTV, given this Thursday, October 12, 2023, he noted that the trade agreement was signed in English; which is called pre-signature. “The negotiation has taken place in English and later the translation into Korean and Spanish will be given for signature.”
In addition, he highlighted that the agreement is signed after seven years of paralysis, since it started in 2016. “In less than a year, 95% of the negotiation for this happy term was advanced. It is the agreement that covers the most matters and that Ecuador has signed; even more than China and Costa Rica.”
These are the benefits of the agreement reached between Ecuador and South Korea
With this agreement, Ecuador’s exports cover 99% of sales to that country. most will have zero tariffs from the start. Others will be five to 10 years. “It allows access to the market for new products.”
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The health protocol for the export of mango, pork and dragon fruit is also being developed. Before, products had high tariffs.
In the case of imports, Legarda confirmed that they are complementary economies. “The purchases we make are machinery. “There are few goods that have sensitivity.”
rice import
Ecuador is a member of the Trade Organization, so the import of rice cannot be prohibited. This is because if the country does so, they can block the sale of the country’s products to others, Legarda mentioned. His statement was given because there were requests for the import to be suspended.
In this context, he also indicated that there are permits for the entry of rice from Uruguay and other countries, to avoid a shortage of grain.
(ecuadorenvivo.com)
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