Bogota, April 11 Colombia's trade ministry said that it will raise tariffs on imports from neighboring Ecuador to 100 per cent from 30 per cent, matching a decision made a day earlier by Quito, as tensions between the two countries escalate.
Trade Minister Diana Morales said on Friday in a statement that Ecuador's latest tariff hike from 50 per cent to 100 per cent forced Colombia to align its policy, accusing the Quito move of distorting competition and harming domestic producers of both countries.
The process to implement the new measure would begin immediately, she said, adding that Colombia had pursued dialogue with Ecuador but received no positive response.
"We have exhausted all diplomatic efforts and kept channels of dialogue open with the government of Ecuador, seeking a solution that benefits both countries, business people, and above all, the communities on both sides of the border," she said.
"However, we have not received a positive response. ... We are therefore forced to adjust our tariff measures to match Ecuador's new rate," she said, adding that the Colombian government will introduce support measures, including credit lines and financing access, to help affected businesses.
Citing a trade deficit and accusing Colombia of failing to effectively fight drug trafficking at the shared border, Ecuador has in recent months hiked tariffs against its larger neighbor, while Colombia has denied the allegations.
The two countries have also clashed over Colombian President Gustavo Petro's comments that Ecuador's former Vice President Jorge Glas is being held as a "political prisoner" and should be freed, Xinhua news agency reported.
The escalating tensions between Ecuador and Colombia come within the final months of Petro’s presidency. Elected in 2022, Petro is Colombia’s first left-wing president and a former rebel involved in the country’s six-decade-long armed conflict.
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