Ecuadorian exports and trade agreements are some of the issues that, according to actors in the country’s export sector, were not covered in detail in the presidential debate that took place a week before going to the polls. From the industrial side, they pointed out that the space presented a “vision that the economy can be reactivated only through the state”, without respecting the real needs of the business sector.

Among the proposals presented by the seven petitioners when they talked about the axis of the economic regime, which also includes job creation and productive development, were: to technicalize agriculture; promote foreign investments; reduce the state budget deficit; create a commission against corruption and impunity; improve electrical transmission; refine oil to reduce fuel values ​​for public transport and heavy loads; keep fuel subsidies; and the Pacific refinery to create development, scholarships, roads and employment.

Presidential debate: strengthening agriculture, improving competitiveness and maintaining subsidies among the candidates’ proposals to reactivate the economy

For the executive president of the Ecuadorian Federation of Exporters (Fedexpor), Felipe Ribadeneiro, “there has not been much talk” about the issue of exports or the trade agenda as a whole.

“I would like the candidates to consider what their future trade agreements will be and how they will manage the approval of trade agreements with the problem we have with Costa Rica; an agreement with China, with Canada, with Panama, with South Korea,” he said.

At the beginning of this month, the Constitutional Court (CC) confirmed the trade agreement between Ecuador and the coast, but raised objections, and the Minister of Production, Foreign Trade, Investments and Fisheries, Daniel Legarda, indicated these days that it was already in contact with the Central American country as would correct the objections.

While the agreement was signed with China last May at the Constitutional Court; the one from South Korea is waiting for the subscription date, which according to Legarda would be between September and October; and negotiations are starting for agreements with Canada and Panama.

A trade agreement with South Korea would be signed between September and October

For his part, the president of the Chamber of Industry of Guayaquil, Francisco Jarrín, pointed out that in general “the vision that the economy can be reactivated only through the state has been maintained without taking into account the real needs of the business sector such as blockades and regulatory disincentives” which they highlighted from the initiative that maintain: investments to reactivate Ecuador’s economy.

He also indicated that several candidates are not thinking about the fact that they will not rule for four years, but only for about a year and a half, “so their proposals during that period were unfeasible, such as restarting the failed oil refining project”.

According to the president of the Círculo de Economía de Guayaquil, Larry Yumibanda, the candidates also did not address the key elements for reactivation and mentioned some issues: the reduction of interest rates, the main obstacle to the progress of microenterprises; whether or not the wage increase will continue for the next year; optimization of public spending; that in terms of tax collection, “no one was specific” and they did not state how they would deal with damages and losses that could be caused by the El Niño phenomenon.

He also commented that no one spoke about the management of international reserves. “Although the candidates said they would not limit reserves, they did not mention whether or not they would revise the level of reserves, for the state it is a key issue, and they did not mention whether there will be a debt restructuring process and very large payments coming in capital issues for the next few years ,” He said.

Country risk in Ecuador is falling from its peak of 2,000 points a week before the election

All agreed that the format of the discussion did not allow for in-depth proposals on how to solve the problems.

“It is true that the debate left us many in debt, we hope that if there is a second round, the candidates who arrive will dive much deeper into these issues,” said Ribadeneira. And he believes that “perhaps” one or two issues that were dealt with in other axes, such as territorial planning, could be “left out” in order to deepen economic and security issues.

“I think it is important to emphasize that what was presented in the debate is a small part of what the candidates presented in their work plans, where there is undoubtedly a greater number of proposals that in certain cases are more aligned with what is possible and really necessary for the moments in which we live in Ecuador,” said Jarrín.

Yumibanda pointed out that all the candidates, although they were addressed in a very superficial and to some extent very conceptual way, agreed that the economic situation is not optimal and that the conditions must be improved.