The ATPDEA Is a Win-Win for Both Ecuador and the U.S.
The Andean Trade Promotion and Drug Eradication Act (ATPDEA) is the commercial basis of the relationship between Ecuador and its biggest trade partner, the United States. Recently, this trade program has been mischaracterized as “one-way
U.S. businesses would also lose out without ATPDEA. American seed, fertilizer and farm equipment providers, distribution and transportation companies and retailers all benefit from the ATPDEA production chain. Roughly 75 cents of every dollar spent on Ecuadorean roses stays in the U.S. economy and more than 50,000 U.S. jobs have been created in the floral sector alone.
Upwards of 100 American businesses invest and operate in Ecuador. Without ATPDEA, American companies will lose opportunities to do business in Ecuador – and your country’s greatest export, American entrepreneurship, will slow to a trickle in the region. There have been concerns raised regarding treatment of American investments in Ecuador, but let me set the record straight by stating the reality: Ecuador will continue to honor its Bilateral Investment Treaty (BIT) with the United States as we enter into talks to update that agreement. My government is committed to resolving disagreements through the appropriate and agreed upon channels and we also recognize the importance of a long-term, permanent pact on trade and investment issues. That is why we are excited to have begun the first stage of bilateral talks with our U.S. counterparts about an economic framework for our two nations.
Ecuador wishes to maintain and deepen its ties with the United States. ATPDEA renewal is a vital component of this ongoing process. We urge the U.S. Congress to look at the real life results of ATPDEA and vote yes to this “win-win
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