For the first time in its history, Ecuador is about to secure preferential access to one of Asia’s most dynamic and sophisticated markets. On September 2, the Strategic Economic Cooperation Agreement (SECA) with South Korea will be signed in Seoul, a pact that opens the door for 98% of Ecuador’s exportable supply to enter with tariff benefits.

Beyond the United States and the European Union

For decades, the country’s foreign trade has revolved around two poles: the US and the EU. The SECA represents a strategic shift: a bridge to Asia that could redefine the country’s export structure. For Ecuador, this means less dependence, more diversification, and the opportunity to become a competitive player in a market of 51 million consumers with high purchasing power.

The agreement will give a boost to the products that already sustain the economy, but its true value lies in opening up new niches. Fruits such as pitahaya, mango, and pineapple will be able to enter with a tariff advantage, just at a time when South Korean consumers are demanding tropical, healthy, and premium foods.

Complementarity that plays in its favor

The relationship with South Korea is an example of complementary economies: Ecuador offers biodiversity and food; Korea offers technological and industrial innovation. The SECA not only opens up a market, it also creates conditions for investment in infrastructure, energy, and technology to flow into the country, modernizing production and improving competitiveness.

What does Ecuador gain?

Shrimp, with global sales of more than USD 6 billion in 2024, could increase its exports to Asia by up to 10%.
Bananas and cocoa would regain ground against regional competitors thanks to the elimination of tariffs.
Pitahaya, mango, and pineapple could generate more than $50 million annually in five years, consolidating Ecuador as a supplier of premium exotic fruits.
Market expansion will bring rural employment, demand for sustainable packaging, and more sophisticated logistics services.
The next step

The agreement must be approved by the National Assembly of Ecuador and the South Korean Parliament, but the path has already been laid out: Ecuador is betting on Asia and, with that, is entering a new phase in which it will no longer be seen solely as a traditional exporter, but will consolidate its position as a reliable supplier of sustainable, high-quality food.

The SECA with South Korea is not just a tariff agreement, but a strategic move that redefines the country’s path, focusing on Asia, where China was its main ally, and finding new directions toward Japan and South Korea. For Ecuador, it means diversifying its export basket, reducing dependence on its traditional partners, and consolidating itself as a reliable supplier of sustainable food in Asia.