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BACKGROUND



ECONOMY

ECONOMY

With an economy overcome by the economic crisis, a series of economic political reforms have helped lead the Ecuadorian economy to sustained, considerable development and focused on achieving financial, political and social stability; Taxes focused on changing consumption habits; development of strategic and priority sectors; construction, improvement of key sectors; development of the internal industry; Clear policies of trade, competitiveness, strategic investment, labour improvement, etc., have helped to achieve an outstanding economic growth, this reflected in a clear decrease in extreme poverty, stability of the middle class, reduction of the gap of the social classes, creation of jobs, increased internal trade, among others.

INVESTMENT

INVESTMENT

Results of geological and mining studies confirm that Ecuador has undoubted mining potential. These minerals can be classified as metallic, which are characterized by their weight, brightness and colour (gold, silver, copper, antimony, lead, zinc, platinum, etc.) and Non-metals that are used largely in the construction (marble, clay, kaolin, plaster, lime, silica, granite, sand among others). The authorities confirm that mining will be the pillar of the country's economy in the future. It will contribute to growth 4% of gross domestic product in 2021 and will generate around 32,000 direct and indirect mining sector jobs. The mining activity will become the second non-oil export item in the Andean country.

LOCATION

LOCATION

Ecuador is a country located in the north-western part of South America. Ecuador borders on the north with Colombia, on the south and on the east with Peru and on the west with the Pacific Ocean. The country has an area of 283,561 km². In addition to the continental territory, Ecuador is formed by the Columbus archipelago, apart from others close to the continent, such as Puná, Santay, and Isla de la Plata. Ecuador is on the equatorial land line, so its territory is in both hemispheres.

INTERNATIONAL SUPPORT

INTERNATIONAL SUPPORT

Ecuador has negotiated bilateral treaties with other countries, in addition to belonging to the Andean Community of Nations and being an associate member of Mercosur. The country is also a member of the World Trade Organization (WTO), in addition to the Inter-American Development Bank (IDB), World Bank, International Monetary Fund (IMF), Andean Development Corporation (CAF), and other multilateral organizations.