Ecuador Places New Import Restrictions
Ecuador's Foreign Trade Committee (COMEX) has issued a resolution which establishes new quality control measures for the importation of particular products into the country.
The resolution covers items, including cosmetics (shampoo, soap, makeup and deodorants), ceramics, perfumes, toothpaste, processed fries, meat and cereals, among others.
Compliance with these new requirements must be certified by accredited verification agencies at the country of origin. The importer has then to obtain a Certificate of Recognition from the National Institute of Standards (INEN) before the goods can be shipped.
This procedure can become cumbersome or take very long to be completed which is expected to function as a barrier for a number of items to enter the country.
These restrictions are expected to result in a reduction of imports during 2014 of some $800 million, roughly equivalent to 75% of last year's trade deficit.