Ecuador charts the course towards a stable economy

Issue 25 July, 2020 In Spotlight 0 Share On :

Having battled political instability for many years and taking consistent efforts towards reducing its economic dependence on oil exports, post the dollarization of its economy, Ecuador has significantly reduced poverty and continues consistent efforts to reduce debt, create employment, fight corruption and protect vulnerable sections of its population.

The recent COVID-19 pandemic crisis has left most countries of the world grappling economic crises in addition to risks to health and safety of citizens. With lockdowns and restrictions constraining the movement of people and freight, there has been a significant decline in oil prices.

As a country that heavily relies on oil exports, this global fall in oil prices has made the situation even more challenging for Ecuador.

Nevertheless, with the International Monetary Fund granting a loan of over USD 600 million in May 2020, an addition credit of over USD 500 million granted by the World Bank, remittances from Ecuadorians working internationally, and the passing of stimulus packages by the government, the country which is home to one of the oldest civilizations in South America is looking ahead to a new dawn.

A unique vantage point

Ecuador, as the name suggests, is a country that’s closest to the equator.

Divided into four regions – the Amazon, the Andean Highlands, the Coastal region and the Galapagos Islands – each with its unique characteristics, Ecuador enjoys myriad tourism and business opportunities. It is one of the seventeen ‘mega-diverse’ countries that have unmatched flora and fauna.

This natural advantage also drives Ecuador’s key imports and exports.

Safe, seamless logistics for Ecuador’s industries

The booming industries in Ecuador include exporting wood and frozen foods. Products like shrimps, bananas and cut flowers, especially varieties of roses and orchids that the region abounds in form some of Ecuador’s major exports.

Its imports include refined petroleum, coal tar oil, motor vehicles, packaged medicaments, etc.

Handling cargo transportation for these products via ocean freight or air freight requires specialised expertise and that is exactly the advantage that an experienced logistics company can offer.

“Our team at ECU Worldwide Ecuador is trained to provide assistance with different requirements of sanitary, origin and quality certificates to comply with the regulations of diverse destination countries. We have a global network operating through more than 300 offices in over 160 countries and local experts in each. This adds to our strengths and helps us provide tailored services to our customers”, says Rebeca Chavez, Country Manager, ECU Worldwide Ecuador.

Connecting Ecuador to the world

United States, China and Panama are Ecuador’s top three trading partners that imported close to 50% of Ecuador’s exports in 2019.

As one of the country’s leading logistics company ECU Worldwide Ecuador offers regular fortnightly export LCL services from the port of Guayaquil to Miami, which is a hub that connects Ecuador to USA, Central America, East Coast of South America, Caribbean, Europe and Asia. Owing to operations across the world and different agreements with major carriers, ECU Worldwide Ecuador can also provide end-to-end FCL along with many other value-added logistics services.

Having offices in the two main cities – Guayaquil and Quito – ECU Worldwide Ecuador’s team is a diverse one that strikes the right balance between experience and youthful enthusiasm and energy. This makes it easier for the team to be adaptable, efficient and equipped to deal with different customer needs and requirements. The commitment to quality and the approach of going the extra mile for customers make it one of the sought after logistics partners in Ecuador.

Safety: A top priority

When it comes to Ecuador’s majorly traded products, customers also face a huge challenge in avoiding contamination of the containers they send for exports.

ECU Worldwide Ecuador, as part of its commitment to the industry ensures that safety and security processes are conducted in an efficient manner to minimize the risks of this threat.

In the current times of crisis, where the world is battling the COVID-19 pandemic, safety measures and protocols have become all the more important. The team at ECU Worldwide Ecuador has stepped up and is ensuring use of masks, sanitizers, temperature checks and maintenance of safe social distance in its offices and facilities, so customers can be reassured of safety during cargo transportation and operations.

ECU Worldwide Ecuador has a BASC Certification and has been recognised by carriers as a secure NVOCC. This commitment to safe and secure operations is one of the main reasons why customers count on services from the world’s LCL consolidation leader.

Moving ahead with digital technology

In an attempt to prevent and contain the spread of COVID-19, Ecuador has implemented lockdowns and several other measures.

Under such circumstances, ECU Worldwide Ecuador has enabled its teams to operate remotely and is also offering customers a feasible way to book cargo transportation online.

ECU360, the state-of-the-art online platform launched in some countries allows customers to ship with a click. A number of features like instant quotes, quick bookings, door-to-door delivery rates for more than 40 countries, easy access to shipping schedules and other important information, etc. make it easy for customers to conduct business 24×7.

Looking ahead to diverse possibilities

In the past 10 years, Ecuador has been developing a good system of mobilisation.

Significant public investment has been incurred on roads and the country is quite efficient in transportation by truck. This service is provided by companies that comply with a security protocol and use the right technology.

Air transportation is vital for Ecuador’s economy, and it is facilitated via two international airports in Guayaquil and Quito.

Quito is one of the best logistics points for the flower industry, as it offers 24-hour services and activities, along with connectivity with the right authorities who can ensure timely air freight dispatches for this perishable cargo.

All these developments point in the direction of progress. Inspite of the challenges, businesses are likely to benefit from a host of opportunities in Ecuador.

With its assessment and experience that makes it one of the most reliable logistics company with a warranty of good service, ECU Worldwide Ecuador is all set to partner Ecuador’s initiatives to bring about development and improve lives.

Quick Bytes

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The booming industries in Ecuador include exporting woods and frozen foods. Products like shrimps, bananas and cut flowers, especially varieties of roses and orchids that the region abounds in form some of Ecuador’s major exports.
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ECU Worldwide Ecuador offers regular fortnightly export LCL services from the port of Guayaquil to Miami, which is a hub that connects Ecuador to USA, Central America, East Coast of South America, Caribbean, Europe and Asia.
3
When it comes to Ecuador’s majorly traded products, customers also face a huge challenge in avoiding contamination of the containers they send for exports.
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ECU Worldwide Ecuador, as part of its commitment to the industry ensures that safety and security processes are conducted in an efficient manner to minimize the risks of this threat.
5
Quito is one of the best logistics points for the flower industry, as it offers 24-hour services and activities, along with connectivity with the right authorities who can ensure timely air freight dispatches for this perishable cargo.

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