LatinNews Daily - 16 April 2026

*Ecuador’s President Daniel Noboa has ratified a strategic economic cooperation agreement (Seca) with South Korea. The Seca will mean that 98.8% of Ecuadorean exports enter South Korea tariff-free, including shrimp, one of Ecuador’s most important exports. Tariffs will be progressively lifted on bananas, another vital product. According to a statement from Ecuador’s national assembly, South Korea imports nearly 70% of the food it consumes, meaning that the agreement will provide growth opportunities for Ecuador’s agricultural and fishing sectors and help to close the gap with neighbours such as Colombia, Peru, and Chile, which already have agreements with Seoul. The 23-chapter agreement also covers matters such as intellectual property, e-commerce, and goods and services, and aims to protect vulnerable sectors with a 15-year adaptation period. The Seca was approved by the 151-member national assembly on 14 April with 83 votes in favour and was opposed by the left-wing opposition Revolución Ciudadana (RC) and two legislators from the government-aligned indigenous party Pachakutik.

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