Almost 1,300 products will enter the country with zero tariffs from next year. Among the main ones are meats, textiles, toys, pharmaceutical products.
From January 1, 2021, Ecuadorian consumers and companies will have access to 1,291 european products at a lower price. This is because those products will enter with zero duty to the Ecuadorian market.
Among the cheapest offer starting next year are meats, dairy, vegetables, fruits, coffee, pharmaceuticals, textiles, tractors, musical instruments, toys, etc.
The trade agreement between Ecuador and the European Union has been in force since 2017; and since that date, a progressive tax relief has been made duty with terms ranging from five to 10 years for products such as cars, bicycles, machinery, perfumes, among others.
In the last two years, products that have reduced their price the most are olive oil, ham, olives, canned goods, cheeses, biscuits, wines and all kinds of vehicles. In the latter case, the discounts range from 11% to 34%.
The participation of European cars within the Ecuadorian market it has gone from 5.3% to 7.7% between 2020 and 2021.
The complete list of european products with zero tariff since 2022; and for the next few years, it can be consulted at the following link: SENAE_European_Union_and_list_of_NMF_sub-items_Cronograms.
More opportunities for Ecuadorian exporters
The income with zero tariffs also applies to Ecuadorian products sold in the european market. Therefore, the situation is also a great opportunity for national exporters.
However, the main problem is that the country has taken resources and operational capacities away from its phytosanitary management system, licenses and certifications.
This situation must be corrected so that the growth that the Ecuadorian supply in Europe continues to take advantage of. Until October 2021, exports to that market totaled $ 3,121 million, that is, 14.4% more than in 2020
Currently, Ecuador has more than 1,120 companies dedicated to exporting to the European Union, mostly SMEs, and those that are part of the popular and solidarity economy. (JS)
FACT.- In 2021, the trade balance with the European Union has favored Ecuador by more than $ 1,200 million.
IT MAY INTEREST YOU:
Ecuador has problems collecting compensation for corruption
The number of infected children increases in Ecuador
The Government closes 2021 with 510,800 bureaucrats on the payroll
