Spain is the eighth world supplier to Ecuador and the second in Europe.
The new government with its motto “More Ecuador in the world and more world in Ecuador” is promoting free trade agreements with its main markets, to become a commercial benchmark in the region.
According to Central bank of Ecuador, the country's GDP growth closed 2021 with a rate of 3,55%, compared to forecasts that pointed to 2,8%. Among the sectors that present the greatest investment and business opportunities for foreign companies Agribusiness, energy, transportation and infrastructure stand out.
The new government with its motto “More Ecuador in the world and more world in Ecuador” is promoting free trade agreements with its main markets, to become a commercial benchmark in the region. Since 2017 Ecuador has been part of the Trade Agreement of the European Union with Colombia and Peru. Spain is the eighth world supplier to Ecuador and the second in Europe.
Thus, facing encourage international trade with Ecuador, Spain has signed agreements on fiscal, commercial and economic matters, such as the one aimed at avoiding double taxation, the agreement for the protection and reciprocal promotion of investments, or the multiparty agreement with the European Union.
Andalusian exports to Ecuador They accumulated 2020 million euros in 42, with a trade surplus of almost 9 million euros, registering a decrease of -33,9% compared to the previous year. Cadiz It was the province that exported the most products to Ecuador, with 20 million euros and 47,6% of the total; followed by Seville, with 12 million and 28%; and Granada, with 4 million and 10,5%.
The most imported Andalusian goods in 2020 from Ecuador were frozen fish, with 18 million euros and 44,4%; followed by olive oil, with 6 million and 15,3%, with an increase of 3,6%; various food preparations, with 3,5 million and 8,2%; vehicles and automobiles, with 3 million and 7,2%; and machines and mechanical devices, with 2,7 million euros and 6,5%.
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