Ecuador Business In A Nutshell

Ecuador is located in Latin America with shared borders with Colombia on the north and Peru on the east and south

. It is considered the fourth smallest country in South America. Quito is the capital. The main language that is spoken is Spanish although some members of the business community will speak English. The official currency is the US dollar which is definitely a benefit to do Ecuador business.

Ecuador business is very well known for its strong banana and flower exports. Its main industry is petroleum, food processing, textiles, wood products and chemicals. Its main exports partners are the US, Peru, Chile, Russia and Colombia. Its main imports partners are the US, Colombia, China, Brazil and Japan.

The Manabi tax free zone is also an important aspect of Ecuador business. This is an important trading area in the country. This zone was created with the intention to boost trade in the region and promote better cooperation with its neighbors. This zone also encouraged foreign investment which in turn created new jobs. The Manabi free zone is located in Eloy Alfaro which is near the city of Manta and is privately run by a company named Zoframa SA which is also in charge of its development.

To begin doing business with Ecuador, your first step should be to contact consulates and embassies. If you want to use the internet for your search online, then register to B2B marketplaces that focus on trade with Latin America to maximize your results.

As demonstrated in this article , Ecuador business does have various opportunities for foreign companies looking to increase their sales worldwide and expand to new markets.

by: Joshua Adekane

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