El Comcercio today published an article about the trade agreement between Ecuador and the European Union, and apparently it is paying off big time for Ecuadorian exporters to the E.U. The first quarter alone of this year so a 100 million dollar increase in exports over the same period from last year. if you're doing the math that's will be about a 1/2 billion dollars worth of more exports by the end of the year. 
How does this impact Ecuadorians and Expats living in Ecuador?
The trade agreement is based on reciprocity in which tariffs are reduced or eliminated. If anyone is paying attention the Euroshow Car Show last week in Quito (Cumbaya) displayed the lower European car prices than the previous year.
The same is also true for other items from the E.U., like Stella Artois and Heineken which are now priced lower. Olive oil from Spain is definitely lower priced, and hopefully other products like canned tomatoes will also be priced less as old stock (under old prices) deplete. Let's hope some more quality food products are imported which can compete with some of the higher priced items currently available.
Trade Agreement with Europe decreasing Price of Imports from the EU
I didn't want to start a new thread but wanted to point out that the prices of items are decreasing even those not from Europe.
This is because a surcharge tax which they call salvaguardas has been lifted. I have personally seen items lessen in price. The clearest examples are items like Mars, Snickers, M&Ms or products that are sold and re-stocked quickly.
To give you an idea, Mars and Snickers were $1.35-$1.40 and are now $1.00
M&Ms were $2.29 and are now $1.60
This basically translates to 30% less. I am certain other items will also decrease in cost as the old stock finishes and new stock arrives.
This is definitely great news, and by the way the added surcharges were between 5%-45% or something like that.
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