Indonesian Political, Business & Finance News

Ecuador scraps 100% tariff on Colombian goods from 1 June

| Source: ANTARA_ID Translated from Indonesian | Trade
Ecuador scraps 100% tariff on Colombian goods from 1 June
Image: ANTARA_ID

Ecuador’s customs authority issued a resolution on Sunday to eliminate a 100% tariff on Colombian goods effective 1 June, ending a trade dispute that had strained relations between the two countries in recent months.

Security surcharge on imports from Colombia will be reduced to 0%, according to Sandro Castillo, director-general of Ecuador’s National Customs Service, on social media platform X. He said the move marks a new phase of cooperation between the two countries in security, trade, and development.

Castillo said the customs authority would ensure effective implementation of the decision to strengthen legal trade, regional integration, and joint efforts to combat illicit trade.

Ecuador’s President Daniel Noboa announced the move on Friday 29 May after talks with Colombian presidential candidate Abelardo de la Espriella.

Ecuador imposed an additional tariff on Colombian goods in January, citing border security concerns and what it viewed as a lack of reciprocity in efforts to combat drug trafficking along their shared border.

The tariff was initially set at 30%, then raised to 50%, and finally increased to 100% on 1 May.

Colombia responded with tariffs of up to 75% on some Ecuadorian products and temporarily suspended electricity exports to Ecuador.

The dispute was referred to the General Secretariat of the Andean Community, which ordered both countries to remove the trade restrictions imposed during the conflict in line with regional bloc rules.

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