The measures reduce tariffs and simplify customs procedures.
The President of Ecuador announced measures that facilitate trade and production, simplify trade and investment procedures, and make competitiveness a priority.
Foreign trade and investment policy
The announced measures include:
- Reducing tariffs for imports of goods, especially raw materials, capital goods and supplies
- Simplifying customs procedures and formalities
- Unifying the Ecuadorian legislation and foreign trade standards established through international treaties
- Implementing good regulatory practices
- Reviewing the current requirements for granting licenses, registries, permits and certificates, as well as the requirements for imports and exports
- Reviewing the agreements and regulations on foreign trade operations
- Creating a Reactivation Committee to elaborate on the national competitiveness strategy
For additional information with respect to this Alert, please contact the following:
EY Addvalue Asesores Cia. Ltda., Quito
- Javier Salazar
- Alexis Carrera
- Alex Suarez
EY Addvalue Asesores Cia. Ltda., Guayaquil
- Carlos Cazar
- Eduardo Góngora
Ernst & Young LLP (United States), Latin America Business Center, New York
- Ana Mingramm
- Enrique Perez Grovas
- Pablo Wejcman
Ernst & Young Abogados, Latin America Business Center, Madrid
- Jaime Vargas
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
- Lourdes Libreros
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific
- Raul Moreno, Tokyo
- Luis Coronado, Singapore
For a full listing of contacts and email addresses, please click on the Tax News Update: Global Edition (GTNU) version of this Alert.