Safeguards Vs. agreement with the EU

The first piece of this trade domino game is the agreement between the EU and Colombia and Peru. The second piece that was demolished was the signing of Ecuador in the same multipart pact. And the third, the one that has failed and interrupted the sequence are the safeguards. What counts now is to calculate what is gained and what is lost with these commercial tools.

Since Ecuador imposed trade surcharges to reduce the outflow of foreign exchange through imports and since this led to a reduction in trade with Colombia and Peru (294 million less between the two countries between January and August 2015, compared to 2014), the neighboring countries have been delaying their approval for the country to adhere to trade agreement. With this pact, Ecuador would introduce in the EU a 96% of raw materials without tariffs and in addition, according to Fedexpor (Federation of Exporters of Ecuador), it would increase its sales to Europe in $ 500 million.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8661754&idcat=38229&tipo=2