Ecuador in two months will lift tariffs for about 300
goods imported from Colombia, before phasing out remaining tariffs within 180
days, Nathalie Cely, Coordinating Minister of Production, said late Tuesday.
Last month, Ecuador imposed tariffs of between 6% and 86% for 1,346 products
imported from Colombia for a period of one year.
Ecuador has already withdrawn the tariffs for around 680 of these 1,346
imported products.
At a press conference Celi said Tuesday that the country will lift tariffs on
other 111 Colombian goods in 120 days and in 180 days will lift the remaining
tariffs for Colombian goods.
The government has said it imposed tariffs on Colombian goods because of its
trade deficit with Colombia, which was caused by a depreciation in the Colombian
currency.
Last year, Ecuador exported $775 million worth of goods to Colombia and
imported $1.73 billion, according central bank figures.
