Ministers of Foreign Trade of Ecuador and Colombia will meet for safeguard measures

Peruvian entrepreneurs are looking forward to the meeting that will take place this January 19 between their Minister of Foreign Trade and Tourism, Magali Silva, and his counterpart in Ecuador, Francisco Rivadeneira.

This country decided, since January 5, a safeguard that imposes a 7% tax to products from Peru and 21% to those of Colombia (except in cases where the principle of Most Favoured Nation is imposed).

Ecuador’s thesis is that these countries have devalued their currencies to the detriment of the national industry, that losses competitiveness, by having appreciated dollars. I.e., the Ecuadorian products become more expensive.