Felipe Espinosa, executive director of the American Chamber of Commerce in Ecuador, recounts the country’s relationship with international free trade and recent developments favorable to the latter. Espinosa highlights the progress made by the national institutions to attract and retain additional economic activity in a country where the cost of entry is low and investments guaranteed by a dollarized economy.
The levels of trade between Ecuador and the United States of America, mainly composed of minerals, have fallen from 7bnUSD to 3.75bn USD between 2014 and 2016 according to the Observatory for Economic Complexity. What are some of the American Chamber of Commerce’s main actions to strengthen the trade of other types of goods between these countries?
"Rather than Ecuador’s dependency on imports, the government’s delusional conception that companies should necessarily produce locally might be the real issue to solve here."
