Ecuador President Backtracks and Signs Trade Accord With EU
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Ecuador reached a trade accord with the European Union today, five years after President Rafael Correa backed out of the talks alleging an agreement would damage local industry.
“We’ve finally closed a balanced accord with the EU that maximizes opportunities, reduces costs to a minimum, respects the development model of the country and allows us to protect our sensitive industries,” Foreign Trade Minister Francisco Rivadeneira said in a statement on the ministry’s website.