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Rise of 20% in sales from Ecuador to the EU after the entry into force of the trade agreement

Exports from Ecuador to the European Union (EU) increased by 20% in the first five months of this year in relation to the same period of 2016, after the entry into force, last 1 of January, of the trade agreement, the Ministry of Foreign Trade reported today.

Quito, July 4 (EFE) .- Ecuador's exports to the European Union (EU) increased by 20% in the first five months of this year in relation to the same period of 2016, after entry In force, on January 1, of the trade agreement, the Ministry of Foreign Trade reported today.

According to this institution, exports in the first five months of 2017 Were $ 1.387 billion, compared to $ 1.159 billion last year.

On the other hand, he said that imports from Europe Went from $ 653 million to $ 766 million, an increase of 17 percent.

During the inauguration of the First Business Meeting Europe Ecuador after the signing of the agreement, The Ecuadorian Foreign Trade Minister, Pablo Campana, said that these figures are the sign that, so far, this has been "very beneficial for both parties", and he was certain that The positive trend will continue.

The figures "definitely cover expectations" but stressed that they aim to improve exports.

The EU ambassador In Ecuador, Marianne Van Steen, highlighted the "positive" results of the entry into force of the agreement and noted that "it is not a surprise" that the increase occurred in particular in the sector

Although Van Steen said that he did not have exact statistics on EU exports to Ecuador, he said that it is "a fairly large increase Important. "In general, he noted that they are" satisfied "and indicated that EU sales to Ecuador also concentrated on traditional industrial products: medical equipment, Mechanical and electrical products as well as pharmaceuticals, fertilizers and inputs.

He commented that "without a doubt" the positive results are due to the implementation of the trade agreement, But also to the removal of safeguards and other types of import restrictions.

The representative of the EU pointed out that, as at the beginning, this has also been "Difficult" and mentioned among some of the initial problems the delay in sending European customs stamps to Ecuador and the invoice declaration as the only valid document to approve the

Van Steen stressed that the agreement is not limited only to imports and exports, because it is "to further integrate the markets", Such as attracting more investment or a more elaborate supply of services, or opening up public procurement.

The six months since the entry into force of the Agreement have not been sufficient to measure the impact in those areas, he commented.

He recalled that the EU supports with 10 million euros ($ 11.3 million) to strengthen capacity Institutional framework of the Ministry of Commerce and to support small and medium-sized producers in order to strengthen their productive capacity, quality systems and the obtaining of certificates To make room in the European market.

Campana said that the government of Ecuador, led last May by Lenin Moreno, is committed to investment, production and

"To do this, we have to build trust, legal stability and bet on entrepreneurship, productivity, competitiveness and innovation," he said. Are an opportunity that generate new and larger markets, technology transfer and, as a consequence, employment and general welfare.

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