Surtaxes still impact the Ecuadorian industry

The need for raw materials and inputs for production, because these do not exist in the country or their supply is reduced, is one of the main reasons why employers ask for the lifting of the safeguards regime.

Last month, 24 federations and chambers of commerce presented to the Government a proposal to reduce surcharges on 380 items related to food, technological equipment, machinery, supplies, among other items. These guilds have high expectations, as Minister of Foreign Trade Juan Carlos Cassinelli announced on July 26 that a possible partial dismantling of the safeguards is analyzed. Andres Robalino, executive director of the Chamber of Industries of Cuenca, said that, for example, the surtax for pork(40%) has an impact on the food sector because it is a raw material to manufacture sausages.

Source: http://www.elcomercio.com/actualidad/sobretasas-industria-ecuatoriana-negocios-economia.html