Nicaragua – Ecuador Trade Agreement Approved

TODAY NICARAGUA – Nicaraguan Rum, cigars, seafood, honey, vegetables, beans, timber, medicines and wood furniture will be allowed into Ecuador with preferential tariffs.

From a statement issued by the National Assembly of Nicaragua:

With 83 votes the National Assembly approved, on February 22, a Partial Agreement between Nicaragua and Ecuador that will allow the exchange of tariff preferences and the elimination of non-tariff restrictions on imports of a variety of more than 30 products from both countries.

Deputy Jose Figueroa, Member of the Committee on Foreign Affairs, said the agreement “is called a partial scope agreement, because it is not a Free Trade Agreement (FTA’s include all of the goods and services of the products of each country) in the case of Nicaragua and Ecuador, only a list of products is included. This agreement, on the other hand, removes all the tariff and non-tariff barriers to facilitate and promote trade between the two countries.”