Agreement between Ecuador and Bolivia will allow to increase its bilateral trade

Published on 20 August 2018

On June 21, it was reported that the Export Promotion and Investment Institute of Ecuador (Pro Ecuador) and the Bolivarian Foreign Trade Institute (IBCE) of Bolivia signed an agreement to promote economic and commercial integration between both countries. The purpose of the agreement is to work on the analysis and promotion of the products and markets of both countries.

The agreement includes the organization of trade missions, consultancies and studies, the organization of promotion activities, capacity building and dissemination. It is important to note that environmental and social development are included as part of the analysis.

En el marco de este acuerdo, vale la pena revisar las cifras del movimiento comercial entre ambos países, así como los productos más destacados y su evolución a lo largo de los dos últimos años.

In the Ecuadorian supply, industrial products for consumption or intermediate use predominate, derived from its steel industry and its natural resources such as iron, clay and trees, from which wood and cellulose are extracted. Also, cocoa can not be missing from the list. Meanwhile, from Bolivia, inputs for the food industry are predominant, based on extensive crops such as oilseeds, hybrid hard yellow corn and grains, to which are added explosives and their components.

At the moment, the value of the merchandise movement between both countries has had an increase close to moderate growth, but without a doubt, the agreement will allow to take advantage of each one's portfolio. As an example of how trade between both countries is still incipient and there is much to exploit, Pro Ecuador noted that until 2016, the exporters of his country had not sent Bolivia products such as tuna, wet cloths, repellents, air fresheners and mattresses .

The complementarity between both markets can continue to be exploited if you identify windows, niches, and even massive markets to serve. The most important thing is to ensure that consumers benefit from the exercise of free trade, while employment grows and the relationship between countries improves.

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