USSEC Helps to Get Zero Percent Customs Duty Deferral Extension for Soybean Meal Imports to Ecuador
As part of USSEC’s goals for regulators to understand the need to innovate trade barriers and allow a better flow of U.S. Soy imports into the Americas regio, USSEC, and Foreign Agricultural Service (FAS) – Lima, and FAS – Quito, were involved in the process of gathering the recommendations necessary for an extension of a zero percent customs duty deferral for soybean meal imports to Ecuador. Parties involved worked very closely with the Trade Division of the Ministry of Agriculture, Livestock, Aquaculture and Fishery (MAGAP).
On December 21, 2016, MAGAP presented a technical report with the recommendations to grant an extension of the customs tariff deferral of zero percent ad-valorem, and the temporary suspension of the Andean Price Band System for imports of soybean meal from any origin.
On December 23, 2016, during a general session of the Foreign Affairs Ministry of Ecuador (COMEX), a three-year extension was approved, expiring on December 31, 2019.
According to the official document of this resolution, “The custom tariff in Ecuador is a tool of economic policy that must promote the development of local production, in accordance with government policies, to increase competition in the productive sectors in Ecuador.
Through Resolution No. 59 of May 17, 2012, published in the Official Registry No. 859, dated December 28, 2012, the custom tariff in Ecuador was approved.
With Resolution No. 040-2014, adopted on November 26, 2014, the Ministry of Foreign Affairs of Ecuador (COMEX ) resolved to defer to 0% ad valorem and suspend the application of the Andean System Price Band until December 2016 for the importation of soybean meal, classified under customs tariff code 2304.00.00.00, referred to meals and other solid residues obtained from the extraction of soybean oil, including grinded or in pellets.”