European Parliament renews preferential tariffs for Ecuador
European Parliament renews preferential tariffs for Ecuador
Dec 13,2013
QUITO, Dec. 12 (Xinhua) -- The European Parliament had approved the renewal of its Generalized System of Preferences (GSP plus) for Ecuador, which would benefit 85 percent of Ecuador's exports to the European Union (EU), Ecuadorian exporters said Thursday.
"The scheme will let more than 5,000 Ecuadorian products enter the European Union market at lower export tax rates," said President of the Ecuadorian Federation of Exporters Felipe Rivadeneira on Twitter.
The renewal of the preferential rates would be valid only in 2014, he said, so it was urgent to move forward with negotiations toward a trade agreement to guarantee Ecuadorian goods better access to the European common market.
Since 1971, Europe's GSP plus scheme has granted preferential rates to developing countries. In November, an official delegation led by Ecuadorian Foreign Trade Minister Francisco Rivadeneira visited Brussels to meet with representatives of the European Parliament on the renewal of the status.
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