Ecuadorian Expert Rules out FTA with the EU

Quito, Jan 20. -Ecuadorian economist Katiuska King, former Minister of Economic Policy Coordination, said her country would be wrong if it signed a Free Trade Agreement (FTA) with the European Union."It's not right, it's not what Ecuador needs," King told Prensa Latina at the Simon Bolivar Andean University in the capital, where she lectured about business strategy and FTAs.

King stated that an agreement of this magnitude with the European Union would limit the possibilities for her country in trade.

King referred in particular to the so-called GSP (Generalized System of Preferences), set by the EU for countries with a middle range income, but whose planned adjustment has not entered into force yet.

According to King, Ecuador has conditions to improve product differentiation and production policies, and for strengthening innovation, science and technology, which is why the government created a coordinating ministry with a specific sector council for the topic.

On this matter, President Rafael Correa recently expressed opposition to an FTA with the EU, in line with the foreign policy of his country based on national interests. (Prensa Latina)