Following the recent legislative approval and the issuance of Executive Decree No. 359 on April 15, 2026, Ecuador has concluded its ratification milestones for the Strategic Agreement with the Republic of Korea. This next-generation treaty not only eliminates tariff barriers but also modernizes customs management and trade in services.

The most relevant operational elements of this agreement are set forth below:

• Immediate Preferential Access: 98% of Ecuador's exportable offer will enter Korea with a 0% tariff. Key products such as shrimp, bananas, cocoa, and flowers will benefit from immediate or short-term tariff reduction, eliminating the current 20% tariff in various sectors.
• Gradual Tariff Reduction on Imports: To protect sensitive sectors, the import of Korean light vehicles and pickup trucks will have a progressive tariff reduction schedule over 15 years. Other industrial goods, such as machinery, polymers, and technology, will have shorter timeframes or immediate elimination.
• Legal Certainty and Advance Rulings: The agreement obligates customs authorities (SENAE) to issue binding Advance Rulings on tariff classification, valuation, and origin prior to importation. This allows operators to mitigate risks of post-clearance adjustments.
• Rules of Origin and Facilitation: Strict qualification criteria are established (Tariff Shift and Regional Value Content). Furthermore, expedited clearance is implemented, with a commitment to release goods within a maximum of 48 hours upon arrival.
• Digital Economy and Services: The treaty prohibits the imposition of customs duties on electronic transmissions (digital products) and guarantees the validity of electronic signatures, facilitating cross-border contracting without the need for a mandatory physical presence.

Decreto Ejecutivo No.359

Entry into Force: The agreement will not enter into force immediately, as South Korea must still complete its parliamentary approval process, which could take at least four months. Once this procedure is concluded and the exchange of diplomatic notes is carried out, the treaty is expected to be fully operational between late 2026 and early 2027.

The content of this document is for informational purposes only and does not constitute, nor may it be interpreted as, legal advice, a legal opinion, or a professional recommendation for specific cases.