Some sensitive products are subject to tariff quotas. This means that each year, only a limited amount of sensitive products can be exchanged duty-free. EFTA has four members: Iceland, Liechtenstein, Norway and Switzerland, which together have a GDP of more than $400 billion and a population of 12 million, representing the highest per capita income of any existing trade group. Although technical rules are important, they can sometimes be barriers to international trade and thus represent a considerable burden for you as an exporter. Ecuador`s accession negotiations to the trade agreement with Colombia and Peru were concluded in July 2014. Ecuador`s accession protocol was signed in November 2016 and has been on an interim basis since 1 January 2017. Origin is the “economic nationality” of the goods exchanged. If you are not yet familiar with the subject, you will find an introduction to the most important concepts in the field of goods. Under the trade agreement, the EU and the three Andean countries cooperate for market monitoring, technical regulations, standards and compliance assessment procedures. The parties are committed to transparency and make all technical provisions available to the public. This cooperation facilitates trade in general, especially for products such as medicines, medical devices, optical instruments, the automotive industry and other machinery. As a large-scale free trade agreement, it covers trade in goods, trade in services, settlement (investment), intellectual property rights, public procurement, competition, trade, sustainable development and cooperation. In the area of trade, EFTA states lift all tariffs on imports of industrial products, including fish and other seafood originating in Ecuador.
Ecuador will phase out or reduce tariffs on industrial products, including fish and other seafood, originating in an EFTA state. As a result, the EU now has a preferential trade agreement with three countries in the Andean Community (Bolivia is the exception). Bolivia currently benefits from the EU`s System of Generalized Preferences (GSP), thanks in part to the special incentive scheme for sustainable development and governance, known as the GSP. Bolivia could also request accession negotiations to the trade agreement, if it so wishes. The trade agreement between the EU, on the one hand, and Colombia, Peru and Ecuador, on the other, has opened markets on both sides and contains detailed provisions on trade facilitation (Annex VII). The EU, Colombia and Peru concluded trade negotiations in 2011. The EU-Colombia-Peru trade agreement was signed in June 2012. The agreement has been implemented provisionally with Peru since March 2013 and with Colombia since August 2013.