On April 21, 2020, Ecuador approved the Trade Agreement with the European Free Trade Association (EFTA), which includes four countries: Iceland, Liechtenstein, Norway and Switzerland.
The negotiations began in 2012 and, on June 25, 2018, both partners signed the Inclusive Economic Association Agreement which complements the EU-Ecuador trade agreement in force since 2017.
Practically all Ecuador exports will be free of tariffs and EFTA products will be granted relief periods depending on Ecuador’s needs.