Ecuador’s Political Instability Worries Tuna Investorsff

Lately, Spanish investments in Ecuador have noticed moderate values compared to the total volume of Spanish investments in this country. Ecuador’s complicated political situation at this moment, and the difficult legislation and the legal insecurity, are the main reasons investors indicated.

The Spanish Economical and Commercial Office located in Quito reports that the Ecuadorian investments in Spain remain very small, however growing, and may experience a positive evolution in the future.

The limited value of the Spanish investment was obvious during the six first months of 2003 when not even reaching 500,000 euro. Spanish investments are currently taking place in all economical sectors of Ecuador. About 40 companies have established in this South American country. However, in many cases this presence is not very remarkable indicates the Spanish Economical and Commercial Office in Quito. However, this is not the case within the canning and fishing industry. The Spanish tuna sector is well represented in Ecuador with the investments of Isabel and Albacore.
 

In 2003, the total investment of more than 300 million euros enabled to surpass the historical record achieved in 1997 in regards to bilateral commercial exchange, mainly due to the great increase in the Ecuadorian exports to Spain. This tendency was mostly thanks to the increase of tuna exports, currently the key Ecuadorian export product to Spain.
 

Conclusively, the great increase of Ecuadorian exports during 2003 has changed the trend of the last two years and noticing a commercial surplus for Ecuador of 32 million US Dollars.