Exporters insist in agreement with the US

Ecuadornews:

The renewal of the GSP is positive, but the entrepreneurs believe that a long-term negotiation will guarantee the stability of the industries.

The export sector highlighted the decision of the US president, Donald Trump, to renew the Generalized System of Preferences (GSP) for three years, benefiting 121 developing countries.

Daniel Legarda, executive president of the Ecuadorian Federation of Exporters (Fedexpor), hopes that this renewal will motivate the negotiations between the National Government and the private sector to sign a commercial agreement with the United States.

“Ecuador’s economy can not continue to live off foreign debt and public spending,” Legarda said, adding that the recovery of economic growth requires the strength of the private sector, investments and exports.

Ecuador exports around $ 400 million per year to the northern country, with a variety of 300 products of various kinds: flowers (except roses), tropical fruits, vegetables and fruit preserves, construction products made of wood, among others.

Access to the SGP saves the sector about $ 40 million and benefits 840 companies, according to the Ministry of Foreign Trade.

With the renewal of the SGP, Legarda believes that the US has opened an important road “that was closed”.

He argued that the country, being the only one on the Pacific coast that does not have a trade agreement with the US, could take advantage of Trump’s willingness to sign bilateral agreements.

On the economic plan that is scheduled to be announced tomorrow, Iván Ontaneda, Chairman of the Board of Fedexpor, said that the productive sector requires an announcement of a multi-year program in the medium and long term; that generates certainty and certainty; more and better exports; and better currency quality for the country.

He was emphatic when he said that the Minister of Economy and Finance, María Elsa Viteri, has the challenge of changing the economic model based on “recessive and distortive” taxes that the country has had in recent years.

“It is essential that the Minister of Economy attend an efficient and effective reduction of fiscal spending,” added Ontaneda.

They hope that within the announcement of the Government they are not only of tributary subjects. “The export sector needs a north where we are going to walk for the next five or 10 years”, which is why they demand an articulation between the economic front and the productive front. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/exportadores-insisten-en-acuerdo-con-ee-uu