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.