The agreement the country negotiated with that block, and which shall be signed on November 11, establishes certain limitations for the European industry which expects to export its products to the Ecuadorian market. 73% of the goods that enter the country will do so with zero duty, and the other 27% must be subjected to a tariff reduction that will end in 5, 7 and 10 years. In the group of products that will not pay taxes from 5 to 10 years are certain medicines, machinery, products of metal smelting and trucks; in the second group (7 years) are private vehicles, passenger vehicles, CKDs, tiles, colorants and plastic raw materials.
Moreover, Ecuador did not accept the EU proposal to export (cold) vehicles manufactured two years before the importation. Therefore, imports of cold vehicles and used cars are still prohibited.