Ecuador’s President announces foreign trade and investment policy measures

Local contact

EY Global

16 Jun 2021
Subject Tax Alert
Categories Indirect Tax
Jurisdictions Ecuador

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.