Business in Ecuador

The objectives of the subject “International Trade and Business in Ecuador” are the following:

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

The Subject “Foreign Trade and Business in Ecuador” belongs to the following Online Programs taught by EENI Global Business School:

Masters: International Business, Foreign Trade.

Doctorate: American Business, World Trade.

Languages: or Ecuador Equateur Equador.

1. Credits: 1
2. Duration: one week

Ecuadorian Agreements.

1. Ecuador and the Latin American Economic Area
2. Andean Community
   1. Andean Community Trade Agreements: MERCOSUR, Chile, Mexico, Panama, and the EU
3. Union of South American Nations (UNASUR)
4. Latin American Integration Association (ALADI)
5. Latin American and Caribbean Economic System
6. Mexico-Ecuador Economic Complementation Agreement
7. El Salvador-Ecuador FTA
8. UK-Ecuador-Peru Free Trade and Economic Integration Agreement
9. Global System of Trade Preferences
10. MERCOSUR (Associate)
11. SICA (observer country)

The Republic of Ecuador retired from the Bolivarian Alliance for the Peoples of Our America (ALBA) in 2018.

1. Ecuador seeks to join the Pacific Alliance after its departure from the ALBA

1. WTO
   1. GATS
   2. Agreement on Sanitary Measures
   3. Agreement on Technical Barriers to Trade
   4. Agreement on Preshipment Inspection
   5. Agreement on Safeguards
   6. Trade Facilitation Agreement
2. WCO
   1. Kyoto Convention
3. Hamburg Rules (Sea)

1. Inter-American Development Bank
2. OAS
3. ECLAC
4. Summit South American-Arab Countries
5. Africa-South America Summit
6. East Asia-Latin America Cooperation
7. CELAC
   1. EU-CELAC Summit

1. UN
   1. UNCTAD
   2. ITC
   3. UNCITRAL
   4. WIPO
2. OPEC Fund for International Development (OFID)
3. WB
4. WTO
5. IMF
6. PEEC

The Republic of Ecuador.

1. Borders of Ecuador: Colombia and Peru
2. Ecuadorian Capital: Quito
3. Guayaquil is the second-largest Ecuadorian city
4. Official language of Ecuador: Spanish
5. Ecuadorian population: 15.7 million people
6. Ecuadorian Area: 283,561 km²
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 of Ecuador from Spain: 1809, recognized in 1830

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

Ecuador belongs to the Latin American Economic Area (Western Civilization).

Ecuadorian Economy.

1. Ecuador benefits from his strategic position that provides the direct access to the East Asian markets and the Western Coast of the U.S.
2. Its proximity to the Panama Canal permits safe access to Europe, the U.S., Africa, the Middle East, and Asia
3. The Ecuadorian economy is the eighth largest economy in Latin America  after Brazil, Mexico, Argentina, Chile, Colombia, Venezuela, and Peru
4. The Dollarization of Ecuador creates an advantage negotiating with a strong currency (since January 2000, the U.S. 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 of Ecuador: 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 bananas, shrimp, fresh tilapia, tuna, fine cocoa, passion fruit concentrate, palm, pond, leaf snuff, and broccoli production

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

International Trade of Ecuador.

1. Thanks to its geographical location, Ecuador has an appropriate climate for growth of many agricultural export products
2. Ecuador has an international reputation as a reliable seafood and aquaculture products supplier, the manufacturing industry is known for its strengths in design, quality, and reliability
3. Ecuador exports to 150 countries
4. Ecuador exports 14,000 million dollars, 50% belongs to petroleum sector and 50% of non-traditional and traditional exports
5. Export growth: 6.7%
6. Import growth: 2.2%
7. Ecuador is the largest bananas, palm of hearts, balsa wood, passion fruit juice, and roses exporter 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 U.S. 25%, the Andean Community 22% Asia 19%, and the EU 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 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 bananas exporter
2. The first palm hearts exporter
3. The first roses exporter
4. The third largest flower exporter

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

(c) EENI Global Business School (1995-2023)
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