The visit of ten American bipartisan congressmen boosts Ecuador’s expectations for the possible start of negotiations with the United States on a trade agreement; and in a shorter period for the renewal of tariff privileges.

This was assessed by the representatives of the Government and the private sector, who met on Wednesday, March 15, with congressmen who make up the Committee on Ways and Means of the House of Representatives of the United States of America.

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The United States is one of Ecuador’s main trading partners, accounting for 15.3% of total exports and 21.3% of imports in 2022 by the third quarter.

More than half of Ecuador’s exports went to the United States in 2022, worth $3,604 million, according to data from the Central Bank of Ecuador.

Julio José Prado, Minister of Production, Foreign Trade, Investments and Fisheries, noted that the delegation’s visit was the most important congressman to arrive in Ecuador from the United States in the last 15 years.

“They will make several field visits to understand the production process in Ecuador, and the Commission, forms of trade and others, have in their hands the approval of the United States System of Preferences and can open the key to a new trade agreement, a free trade agreement with the United States,” said Prado, who assured that this week is crucial for the ratification of Ecuador’s will to continue negotiating an agreement with the North American country.

In the meantime, the congressmen, who arrived in the country on Wednesday and were received in Quito by the Minister of Foreign Affairs Juan Carlos Holguín and the Ambassador of Ecuador to the United States Ivonne Baki, met with the President of the Republic Guillermo Lasso, where he emphasized the strengthening of relations between the two nations.

The congressmen also met in discussion with representatives of the Ecuadorian Federation of Exporters (Fedexpor), with whom they discussed the need to stimulate trade by improving tariff conditions for access to the US market for products such as flowers, broccoli, manufacturing and fisheries.

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Exporters also highlighted the need to deepen security cooperation with the United States to address cargo contamination issues in the export logistics chain.

“From the Federation, we will continue to promote all areas that enable the improvement of competitive conditions for all export sectors on the main destination market for most of the products from our basket,” said the union.

Meanwhile, with the American-Ecuadorian Chamber of Commerce (Amcham), American envoys addressed issues such as increasing trade flows between the two nations and insisted on the need to finalize a trade agreement that establishes a legal framework for business and investment predictability.

“Greater trade processes with the United States would represent new employment opportunities in the country, which will help strengthen the economic and social conditions in the business environment,” explained Rocío Velarde, President of the Amcham Board of Directors.