Resolution 166 generated fall of $ 81.4 million in imports in January

According to data from Ecuadorian Business Committee (EEC), more than 70 subheadings have registered significant declines in their market entry, from AC motors and Ironmonger items up to baby supplies, cheese and makeup.

This arises from the complications the importing sectors have after the application of Resolution 166, disposed by the Committee of Foreign Trade (Comex), and a number of official measures that seek lowering imports at USD 800 million this year.

Through a Comex report on the effects of Resolution 166, presented yesterday by Gabriela Uquillas, Customs adviser of the Guayaquil Chamber of Commerce, she pointed that last January  imports fell down USD 81.4 million,  a 58% less than january 2013.

For their part, yesterday, the representatives of the Ecuadorian Business Committee (EEC) submitted a letter to President Rafael Correa, requesting to suspend the Comex recent resolutions  until they could improve their operability