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The Colombian boom is also exploited by the Ecuadorians, who open new stores in Ipiales (Colombia)
Posted On 11 Oct 2016
From December to September this year 300 new stores have been opened. Of that total, 20% of the owners are from Ecuador. The Chamber of Commerce of Ipiales reports this.
One example helps to explain the reasons that lead Ecuadorians to invest in Colombia. Jose Caicedo is from Quito, he owns two stores and a warehouse in Ipiales. His investment in Colombia was of about $ 80,000. He shares his time between the Colombian city and the Ecuadorian capital, where his family lives.
Caicedo explains that a 150% in tariffs is paid in Ecuador. In Colombia thanks to the TLC (Free Trade Treaty) only a 28% is paid, which makes products cheaper. “My suggestion for the new president is that Ecuador must be competitive with the world.” He adds: “I love Colombia and I am grateful for the welcome. We must reflect. If the majority of Ecuadorians come to buy in Colombia, it is a fact that something went wrong in Ecuador.”(I)
