The document signed by the two countries aims to increase bilateral trade by reducing trade barriers and developing a positive agenda.

Peru’s Ministry of Foreign Trade and Tourism (MINCETUR) (in Spanish) has signed an Understanding on Trade Issues with Ecuador’s Ministry of Foreign Trade and Ministry of Industries and Productivity, in the framework of the Presidential Meeting and 9th Binational Cabinet of Ministers from Peru and Ecuador, which took place in the city of Jaén, Cajamarca, on December 18, 2015. The presidents of the Republic of Peru, Ollanta Humala Tasso, and the Republic of Ecuador, Rafael Correa Delgado, were both present at the event.

The most noteworthy of the agreements reached is the commitment not to impose qualitative or quantitative restrictions on imports of products. Furthermore, with regard to technical regulations, foreign trade brokers will be able to opt for the conformity assessment procedures contemplated in Ecuador’s technical regulations, first-party certifications of conformity, the manufacturer’s affidavit, the importer’s affidavit, or the Ecuadorian Service for Standardization (INEN) quality seal, which will be processed in a similar length of time and at a similar cost for traders from either country.

Regarding sanitary and phytosanitary matters, the respective authorities will establish a priority agenda to expedite the entry of products of animal and plant origin, to be coordinated by the two countries’ ministries of foreign trade.

With regard to transportation, a working group has been established to facilitate the normal flow of cargo vehicles, which will take into account the Transportation Authorities’ Agreement of 2010. Meanwhile, unjustified checks and sanctions will be prevented.

A working group was also established to review the technical regulations that may be affecting the normal course of bilateral trade.

The ministries in question committed to holding regular meetings in order to keep bilateral trade relations moving smoothly.