Ecuador Proposes Updating Economic Complementarity Agreement No. 59 between MERCOSUR and CAN

President Daniel Noboa presented the proposal to update Economic Complementarity Agreement (ACE No. 59) during the LXVIII MERCOSUR and Associated States Summit, held in Asunción, Paraguay. The initiative seeks to strengthen integration between MERCOSUR and the Andean Community (CAN), eliminating barriers that limit trade and expanding opportunities for Ecuadorian exports.

The proposal includes five strategic areas: elimination of non-tariff barriers, simplification and digitalization of customs and sanitary processes, strengthening of port infrastructure, development of bioceanic corridors and digital connectivity, in addition to the promotion of joint investments in agro-industrial, aquaculture, energy, technology, and services sectors. The president highlighted that Ecuador has a wide range of exportable goods that still face regulatory, logistical, and sanitary restrictions to access new markets.

The initiative reflects Ecuador's interest in updating regional economic integration mechanisms and adapting them to the new dynamics of international trade. The reduction of trade barriers and the modernization of exchange processes, along with the strengthening of regional port infrastructure, could expand access for Ecuadorian exportable goods to MERCOSUR markets, favoring competitiveness and the development of foreign trade.