An agreement with Canada exempts 99.6% of Ecuadorian exports from customs duties.
Opening new markets for its products
Written by Ziad Abdel Fattah:
The government announced Ecuador Signing a free trade agreement with Canada, in a move aimed at boosting the flow of its exports and opening new markets for national products, stressing that the agreement will allow for the exemption of about 99.6% of its exports to the Canadian market from customs duties as soon as it comes into effect.
The government explained in an official statement that the agreement covers a wide range of areas of cooperation, including trade in goods and services, investment, e-commerce, as well as labor, environmental and indigenous rights issues, in addition to dispute settlement mechanisms.
Ecuador announces that more than 600 commodities will benefit from the agreement.
More than 600 Ecuadorian goods are expected to benefit from the customs exemptions, including key products such as bananas, cocoa and shrimp, along with tropical fruits and vegetables, which will enhance the competitiveness of Ecuadorian exports in the Canadian market.
The agreement also grants preferential advantages to a number of sectors, most notably flowers, tuna preparations, textiles, footwear, and cosmetics, which supports the diversification of the country’s export base.
In contrast, the agreement includes exceptions to protect 227 sensitive agricultural products, including rice, corn, milk, meat and sugar, in order to maintain local food security and support producers.
Ecuador emphasized that the agreement is in line with trade arrangements concluded by competing countries in the region, such as Colombia and Peru, which enhances its competitiveness within global markets.
In another context, heavy rains caused widespread flooding in Monrovia and surrounding areas, destroying homes, damaging food supplies, and contaminating water sources.
Humanitarian officials say that those most affected are female-headed households, people with disabilities, the elderly, children under the age of five, and families with no income.
According to the Liberian Red Cross Society, flood victims urgently need food aid, shelter, clean drinking water, and sanitation services. Officials warn that every day of delay worsens the situation for the displaced.
The Liberian Red Cross Society stressed in an emergency appeal issued on Thursday: “The scale of the needs far exceeds the available resources. Families cannot recover on their own.”.
The association calls on the Liberian government, development partners, donors, and citizens to support relief efforts. It stressed the urgent need for immediate action to save lives and restore the dignity of affected communities.
