The EU-Ecuador Association Agreement signed in 2016 has brought about numerous benefits to the people of Ecuador, including improved trade relations and economic growth. As part of the agreement, Ecuador has been able to export its products to the European Union, while the EU has opened its markets to Ecuadorian goods and services.
One of the areas that have seen significant improvements since the signing of the Association Agreement is transport. The agreement has allowed Ecuador to import buses duty-free, which has had a positive impact on the country`s public transport system.
The improved public transport system has meant that people in Ecuador have more affordable and accessible options to move around the country. This reduction in transport costs has boosted economic activity as people can spend less on transportation and invest more in businesses or services.
Moreover, the use of buses as a means of public transport has also led to a decrease in carbon emissions, which is a positive step for the environment. The EU, for its part, has supported Ecuador in implementing measures to reduce carbon emissions and improve the sustainability of its transport system.
The Association Agreement has also helped create jobs in Ecuador. The importation of buses has provided job opportunities for people in the transportation sector, including mechanics, drivers, and administrative staff, among others. This has had a ripple effect on the economy, as these workers then spend their incomes on other goods and services, further stimulating economic growth.
In addition to the benefits to the people of Ecuador, the Association Agreement has also strengthened the relationship between the EU and Ecuador, paving the way for future cooperation in other sectors.
In conclusion, the importation of buses under the EU-Ecuador Association Agreement has brought about numerous benefits for the people of Ecuador. It has led to improved public transport, job creation, and a reduction in carbon emissions, among other advantages. This agreement is a testament to the positive impact that international trade agreements can have on developing economies.