If Ecuador loses in the US the protection of the General System of Preferences (GSP), the country’s exports will be reduced by $ 269 million between 2018 and 2020. That is the estimate of the Ecuadorian Exporters Federation (Fedexpor). The GSP is a mechanism that allows about 300 Ecuadorian products to enter the US market tariff-free. But it will only be in force until December 31 of this year.
The Government develops various strategies to achieve its extension, including the meetings to be held by Foreign Trade Minister Pablo Campana from today (September 11) until Saturday in four US cities, with representatives from public and private sectors.
The tour’s activities include a business forum with executives from the US Chamber of Commerce and members of the Council of the Americas; a dialogue with members of the Office of Commerce for the Western Hemisphere; another appointment with members of the State Department. They will also meet with committees of the House of Representatives and financial funds. Entrepreneurs from the Chamber of Industries of Guayaquil, the American Ecuadorian Chamber of Commerce (Amcham) and Fedexpor will accompany the US Minister. (I)