Doing Business in Ecuador

Syllabus of the Subject: Doing Business in Ecuador. Quito.

1. Introduction to the Republic of Ecuador (Andean Community)
2. Doing Business in Guayaquil and Quito
3. Ecuadorian Economy
4. International Trade of Ecuador
5. Customs of Ecuador
6. Import and export formalities
7. Foreign Direct Investment (FDI) in Ecuador
8. Case Study: Business Opportunities in
   1. Industrial sector
   2. Fashion and accessories
   3. Services
9. Agribusiness sector. Case Study:
   1. UBESA
   2. Holding Favourite Fruit Company
10. Case Study: Manta-Manaus Multimodal Transport Infrastructure in Ecuador
11. Introduction to Spanish
12. Access to the Ecuadorian Market
13. Business Plan for Ecuador

The objectives of the subject “Foreign Trade and Doing Business in the Republic of Ecuador” are the following:

1. To analyse the Ecuadorian economy and foreign trade
2. To evaluate the business opportunities in Ecuador
3. To explore Ecuadorian trade relations with the country of the student
4. To know Ecuadorian Free Trade Agreements
5. To examine the profile of Ecuadorian Companies
6. To develop a business plan for the Ecuadorian Market

Sample of the subject - Doing Business in Ecuador:

Description of the Subject (Online Learning): Doing Business in Ecuador

The Republic of Ecuador.

1. Borders of Ecuador: The Republic of Colombia and Peru
2. Ecuadorian Capital: Quito.
3. Guayaquil is the second-largest city
4. Official language of Ecuador: Spanish
5. Ecuador's population: 15.7 million people
6. Ecuadorian Area: 283,561 square kilometres
7. Ecuadorian currency: Dollar USD
8. Abolition of Slavery in Ecuador: 1851
9. African Diaspora in Ecuador: 1.1 million people (7.2% of Ecuadorian population)
10. Independence from Spain: 1809, recognised in 1830

Main religion in Ecuador: Christianity (Catholicism: 13 million)

Ecuador belongs to the Latin American Economic Area of the Western Christian Civilisation

Ecuadorian Economy.

1. Ecuador benefits from his strategic position that provides direct access to the East Asian markets and the West coast of the United States
2. Its proximity to the Panama Canal permits safe access to Europe, the Eastern Coast of the United States, Africa, the Middle East, and the rest of Asia
3. The Ecuadorian economy is the eighth largest economy in Latin America after Brazil, Mexico, Argentina, Chile, the Republic of Colombia, Venezuela, and Peru
4. The Dollarisation of Ecuador creates an advantage in negotiation under a strong currency (since January 2000, the US Dollar is the official currency)
5. Petrol, manufacturing, commerce, and agricultural production are the pillars of the Ecuadorian economy
6. Petrol accounts for 40% of the Ecuadorian exports, petroleum exports allow having a positive trade balance
7. Ecuadorian GDP growth: 3.8% (economic slowdown)
8. Inflation: 3.7%
9. Tax reform in Ecuador in 2014. Tax amnesty in 2015
10. The Union of South American Nations (UNASUR) is in Quito
11. Ecuador is a leader in production of bananas, shrimp, fresh tilapia, tuna, fine cocoa, passion fruit concentrate, palm, pond, leaf snuff, and broccoli

The main activity of the Holding Favourite Fruit Company is the production and export of first-class green bananas, Cavendish variety. Favourite Fruit Company has a 4.5% share of the worldwide market; exports have shown a continuous growth.

Foreign Trade of Ecuador.

1. Thanks to its geographical location, Ecuador has an appropriate climate for the growth of many export agricultural products
2. Ecuador has an international reputation as a reliable supplier of seafood and aquaculture products, and the manufacturing industry is known for its strengths in design, quality, and reliability
3. Ecuador exports to 150 countries. The largest export markets of Ecuador are the United States, Peru, the Republic of Colombia, Chile, Venezuela, Italy, Panama, and Russia
4. Ecuador exports 14,000 million dollars, 50% belongs to the petroleum sector and the other 50% of non-traditional and traditional exports
5. Export growth: 6.7%
6. Import growth: 2.2%
7. Ecuador is the largest exporter of bananas, palm of hearts, balsa wood, passion fruit juice, and roses in the World
8. Ecuador is renowned for its high-quality food products, including cocoa, coffee, aromatic, and medicinal plants
9. The largest import partners of Ecuador are Latin America excluding the Andean Community 37%, the United States 25%, the Andean Community 22% Asia 19%, and the European Union 10%.
10. The Port of Guayaquil handles a majority of the international trade of Ecuador; it is the economic capital of Ecuador
11. Other important ports of Ecuador are Esmeraldas, Manta and Puerto Bolívar (banana). A larger bulk of the international trade takes advantage of ocean routes. Every year, there are over 2,500 vessels that leave from Ecuadorian ports

Ecuador is:

1. World's leading exporter of bananas
2. The first exporter of hearts of palm
3. The first exporter of roses
4. The third largest exporter of flowers

Ecuador Free Trade Agreements (FTA)

Ecuador is a member of the Andean Community and associated to the MERCOSUR

1. Andean Community
2. Andean Community Free Trade Agreements (FTA): MERCOSUR, Chile, Mexico, Panama, and the European Union
3. Union of South American Nations (UNASUR)
4. Latin American Integration Association (ALADI)
5. Bolivarian Alternative (ALBA)
6. Latin American and Caribbean Economic System (SELA)

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