Juan Carlos Cassinelli, Ecuador`s Minister of Foreign Trade, said that “the agreement (link in Spanish) guarantees that 99.7% of Ecuador`s supply of agricultural products and 100% of its industrial and fishery products enter duty-free. It also allows us to maintain the Andean price band system, envisages agricultural protection measures, supports the solidarity economy and protects the young industry,” he added. Negotiations on Ecuador`s accession to the trade agreement with Colombia and Peru were concluded in July 2014. The Protocol of Accession to Ecuador was signed in November 2016 and has been provisionally applied since 1 January 2017. At the same time, Humberto Jiménez, Deputy Minister of Foreign Trade, made a presentation to businessmen at the Chamber of Commerce of Quito to explain the processes of reducing customs duties for export products. The objective of Chapter 4 is to improve the legal framework for investors from EFTA countries and Ecuador who invest in the markets of the other country. This objective is achieved through the granting of non-discriminatory rights of establishment and exploitation (“commercial presence”) in sectors not covered by the Chapter on Trade in Services. In some economic sectors, Contracting Parties have introduced into their national legislation reservations regarding reserve treatment due to restrictions (Annex XV). The chapter is subject to regular review in order to develop the commitments of the Contracting Parties. “Today`s signing is very good news and proves that the EU provides in its central political area of free and fair trade”, after the refusal of Bolivia and Ecuador to sign a free trade agreement, the EU continued bilateral negotiations with Peru and Colombia. In April 2011, Colombia signed a text with the EU and the agreement with Peru is provisionally in force, although they are both waiting to be ratified by the European Parliament. Meanwhile, Ecuador, which has an anti-FTA stance, continues to discuss a possible deal with the EU.
The agreement removes high tariffs and combats technical barriers to trade. It also liberalises services markets, protects EU geographical indicators and opens up procurement markets. It includes obligations for the application of labour and environmental standards, as well as procedures for the prompt and effective resolution of disputes. . . .