Trade agreement between Ecuador and Peru is signed

Ecuador reached an agreement with Peru to facilitate the bilateral trade and improve the inconvenience caused by Resolution 116 of the Committee of Foreign Trade (Comex), which restricts imports since late last year.

Trade authorities of both countries met yesterday and reached an agreement on 15 points.

Genaro Baldeon, Deputy Minister of Foreign Trade of Ecuador, said that Ecuador will recognize the certifications issued by organizations accredited by the Peruvian Andean Community. In addition, no certification shall be required to Peruvian companies that are recognized by the INEN and the countey will accept the declaration of the manufacturer saying that the product meets the quality standards, if these rules are similar in both countries.

Magaly Silva, Minister of Foreign Trade of Peru, said that Peru will also provide facilities for the entry of Ecuadorian products.

Silva added that the meeting allowed to restore the confidence so that the private sector can move and develop its businesses.

According to Ecuadorian authorities, it is expected to conduct a similar meeting with Colombia.