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The National Assembly approved Ecuador's trade agreement with South Korea on April 14, a 23-chapter deal that could boost Ecuadorian exports by roughly $367 million over five years. 98.8% of Ecuador's exportable goods enter South Korea at zero tariff immediately under the agreement. Shrimp is the headline beneficiary. The deal still needs presidential ratification.
Ecuador's Production, Foreign Trade, Investment and Fisheries Minister Luis Alberto Jaramillo met with the Ecuadorian-American Chamber of Commerce in Guayaquil on April 14 to walk through the US Reciprocal Trade Agreement. Headline: 57% of non-oil exports get zero tariffs. Concerns: competition with subsidized US agricultural products.
The United States and Ecuador have finalized a reciprocal trade agreement that eliminates a 15% surcharge on $2.8 billion in non-oil Ecuadorian exports and opens Ecuador's agricultural market to US soybeans, dairy, beef, and poultry. Most-favored-nation treatment takes effect by August 2026.
The European Commission concluded negotiations on a Sustainable Investment Facilitation Agreement (SIFA) with Ecuador -- the EU's first such deal with any Latin American country. The agreement focuses on streamlining investment authorizations, improving transparency, and includes a first-of-its-kind annex on sustainable energy and raw materials.
The U.S. Trade Representative and Ecuador formalized a reciprocal trade deal covering approximately $2.786 billion in goods. U.S. beef tariffs will phase to zero over three years, pork tariffs are mostly eliminated, and Ecuador secures preferential treatment for over 90% of the U.S. agricultural schedule.
Ecuador shipped 125,200 tonnes of shrimp in January 2026, a 23% increase year-over-year. China remains the top buyer at 49.5% of volume, though its share has declined from 54.2% in 2024. The industry projects a 15% increase for the full year.
Banco Bolivariano issued Latin America's largest biodiversity bond at $120 million, backed by IDB Invest ($50M), IFC ($50M), and FMO ($20M). The 5-year bond funds sustainable agriculture, freshwater and marine ecosystem protection, waste management, forestry, and ecotourism.
The World Bank forecasts Ecuador's economy will grow just 2% in 2026, among the lowest rates in Latin America. A fiscal deficit of 3-4% of GDP, expiring security contributions, weakening oil receipts, and likely tax reform paint a challenging picture.
The FBI opened a permanent office at the U.S. Embassy in Quito on March 12, assigning a full-time agent to coordinate joint investigations targeting drug trafficking, weapons smuggling, and money laundering. Ecuador simultaneously created a new National Police unit to work alongside the bureau.
Amnesty International submitted evidence to the UN documenting 10 people disappeared in five military operations in 2024, with 43 possible victims since 2023. A landmark court ruling sentenced 11 military officers to 34+ years for the disappearance of four teenagers in Guayaquil.
Ecuador's Constitutional Court declared the Strategic Economic Cooperation Agreement (SECA) with South Korea constitutional, clearing the final legal hurdle. 98.8% of Ecuador's exportable products will enter Korea tariff-free, opening access to 51 million consumers.
In a CNN en Espanol interview on March 20, President Noboa defended Ecuador's commercial relationship with China while reaffirming the country's deepening military and diplomatic alliance with the United States.
