Ecuador's free trade agreement with the U.S. fell through this year while the South American country still does not have an agreement with the European Union.

Ecuadorian Business Committee president Blasco Peñaherrera

Ecuador's businesses are investigating the possibility of indirect exports to its main markets through Peru and Colombia, website Agraria.pe reported.

Ecuadorian Business Committee president Blasco Peñaherrera, lamented there would be very little value added through the sale of raw materials and intermediate products, but there weren't many other options.

"Unfortunately, until decisions are consistent and serious in respect of this, we can't do more than find a solution in this palliative," Peñaherrera was quoted as saying.

Peñaherrera said the Ecuadorian Government lacked a clear policy towards trade with the U.S. and the European Union, urging it to support a 'productive chain' of businesses across Colombia, Ecuador and Peru, the story reported.

The products mentioned included vegetables, cocoa, sugar, eggs, fresh fish, rubber, aluminum and cables.

Ecuador's President Rafael Correa has pledge his government would sign a free trade deal with the European Union, telling radio show Diálogo many trade agreements were 'traps' or 'expressions of neo-colonialism'.

He said the government aimed to sign the agreement in good time but Europe was not 'the last Coca-Cola in the desert' if the deal didn't come through.

Related stories: Colombia and Ecuador hit by U.S. tariffs

Latest round of EU-Ecuador FTA talks end without agreement

Photo: Diario Critico

www.freshfruitportal.com