ATPDEA Back Up Plan to Support Exporters will Be Known in 10 Days

Yesterday afternoon, the Coordinating Minister of Production, Nathalie Cely, announced that 10 days is the deadline to present the plan to support exporters to avoid the Trade Preference Act (ATPDEA).

Mauricio Peña, Deputy Coordinator of Production, has not ruled out implementing tax measures in the framework of an agreement with South Korean authorities for the implementation of an Ecuadorian foreign trade.

This proposal includes measures with medium and long term effects. For example, progress in logistics to reduce transportation costs in the brocolero and floriculture sector, or the promotion of products that may benefit ATPDEA in new niche markets.

This scheme aims to reduce the financial burden for exporters whose products are charged from 3 to 35% of tariffs to enter U.S. According to estimates by the Ministry of Production, annual spending for the payment of these taxes total $ 40 million.

Source: El Comercio Newspaper