Posted On 20 Oct 2016
In about two years, the average time it is believed that it will take the UK to formalize its departure from the European Union (EU), Ecuador would renegotiate with the British the trade agreement to be signed by the end of this year with the European bloc, to redefine trade relations.
Last June, the United Kingdom voted to leave the EU in an initiative called Brexit (Britain-Exit).
Nicholas Armstrong, president of the Chamber of Ecuadorian-British Commerce, said yesterday that, in the meantime, the relations with Ecuador should be subject to the parameters achieved in the agreement.
“When the treaty between the EU and Ecuador is signed, the UK will be still included because it has not left,” analyzed Armstrong, who believes that it is easier for Ecuador to renegotiate the conditions with the UK.
Armstrong gave this remarks in the context of the signing of an agreement between the Chamber and ProEcuador to strengthen the promotion of exportable supply of Ecuadorian MSMEs in the UK.