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Ecuador and Canada have officially signed a Free Trade Agreement (FTA), a landmark deal expected to strengthen trade between the two countries and create new opportunities for Ecuadorian exporters.
Once the agreement comes into force, 99.6% of Ecuador’s exportable products will be able to enter Canada duty-free, according to the Ecuadorian government.
More than 600 Ecuadorian products will benefit from the agreement, including:
The agreement also covers services, investment, e-commerce, labour protections, environmental standards, Indigenous issues and dispute resolution, making it one of Ecuador’s most comprehensive trade deals.
Certain Canadian and Ecuadorian agricultural sectors remain protected, with products such as rice, corn, milk, meat and sugar excluded from tariff reductions.
The new agreement places Ecuador on similar trade footing with neighbouring Colombia and Peru, both of which already have free trade agreements with Canada.
For Canada’s large Ecuadorian community, the deal could strengthen economic ties between the two countries while creating new opportunities for businesses, exporters and consumers on both sides.
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