The Chilean Senate has approved the Trade Integration Agreement between Ecuador and Chile. The next step will be the notification before the Latin American Integration Association (Aladi), to ratify the parties’ compliance with the requirements established in their internal legislation.
Ecuador has completed the internal ratification process and also sent its approval to the regional body. This trade agreement increasingly brings Ecuador’s accession to the Pacific Alliance, an important trading block that will allow the national productive sector to achieve economies of scale and productive efficiency in costs, quality, among other factors, for certain products.
In 2020, Chile was the fifth destination of total Ecuadorian exports. Among the most important export products were bananas, pineapple, juices and fruit preserves.