INTERNATIONAL REGULATORY ROUND UP – ECUADOR TRADE DEAL OFFERS NEW COCOA SOURCE
August 1st, 2014
ECUADOR, an important confectionery exporter to the European Union (EU), has struck a new bilateral free trade agreement with the EU, which will eliminate tariffs on imports to Europe. The new trade deal is supposed to take effect in late 2016, and until then a system of preferential tariffs will be in place.The EU imported EUR114 million’s worth of cocoa and cocoa-based preparations from Ecuador in 2013; and EUR153 million in 2012. Also, it imported EUR2.2 million’s worth of sugars and sugar confectionery (including chewing gum) in 2013, and EUR2.4 million ...
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