Ecuadorian exporters aim for agreement with U.S.
Daniel Legarda, executive president of the Ecuadorian Federation of Exporters (Fedexpor), hopes that this renewal will motivate the negotiations between the national government and the private sector to sign a commercial agreement with the United States. “Ecuador’s economy cannot continue to live off foreign debt and public spending,” Legarda said, adding that the recovery of economic growth requires a strong private sector, investments and exports.
Ecuador exports around $ 400 million a year to the U.S.; a variety of more than 300 products such as flowers, tropical fruits, vegetables and fruit preserves. Access to the SGP saves the sector about $ 40 million and benefits 840 companies, according to the Ministry of Foreign Trade.
Ecuadortimes.net wrote how, with the renewal of the SGP, Legarda believes that the U.S. has reopened an important road “that was closed”. He argued that the country, being the only one on the Pacific coast that does not have a trade agreement with the U.S., could take advantage of Trump’s willingness to sign bilateral agreements.