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Andean Trade Preference Act

The U.S. considers Ecuador, along with Bolivia, Colombia, and Peru, to be a preferential trading partner. The Andean Trade Preference Act encourages exports from Andean nations to the U.S., by removing most trade barriers. The Act allows for the duty-free export of certain products, such as flowers, to the U.S. The chief benefit to U.S. importers is the opportunity to acquire goods at prices substantially below those found in the U.S. (The primary benefit to Ecuadorian exporters, meanwhile, is virtually unrestricted access to one of the world's largest markets.) In 2002, the U.S. renewed the Andean Trade Preference Act for five additional years.

 

 

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