The National Assembly of Ecuador (Parliament) approved a trade agreement with the United Kingdom, still pending ratification by the president, and which will govern economic relations between the two countries in the post-Brexit era.
The United Kingdom is the fifth largest importer of goods in the world and the second largest within the community area, which is why Ecuador has sought to maintain the alliance within a preferential commercial framework.
In 2019, the Andean country exported non-oil products to the United Kingdom for a total value of 166 million, with bananas, canned fish, shrimp, abaca, natural flowers and preserved agricultural products, as the main products exported to that market.
After Parliament’s approval, the process must go through the ratification of the agreement by the Ecuadorian president, Lenín Moreno.
