AEBE: Ecuador expects to double banana exports to South Korea thanks to trade deal

GUAYAQUIL, Ecuador, Oct. 30, 2026 /PRNewswire/ -- Ecuador, the world's leading banana exporter, expects to double shipments to South Korea once the bilateral trade agreement enters into force and tariffs are eliminated, positioning the Andean nation as South Korea's top supplier of the fruit.

José Antonio Hidalgo, executive director of the Association of Ecuadorian Banana Exporters (AEBE), expressed the industry's optimism in an interview with EFE that the bilateral free trade agreement with South Korea will take effect soon.

Speaking at Banana Time Guayaquil 2026, Latin America's largest banana industry convention, Hidalgo noted that Ecuadorian banana exports to South Korea had surged 200% during a period when the fruit received temporary tariff exemptions.

The tariff currently stands at 6%, contributing to a 61% year-over-year decline in Ecuadorian banana shipments to the South Korean market. "We hope that once the tariff phaseout is implemented over five years after the trade agreement takes effect, we reach zero tariff and can sustain that steady 200% growth we saw a couple of years ago," Hidalgo said.

Exporters are also focused on shipping more bananas to China and Japan. A trade agreement is already in force with China, which currently sets the banana tariff at 7% and is scheduled to reduce it to zero over seven years; AEBE does not rule out that the timeline could be accelerated following recent diplomatic rapprochement between the governments.

Regarding Japan, Ecuadorian banana exporters met with major shipping lines during Banana Time Guayaquil 2026 to optimize freight routes for the coming year. "In a couple of weeks, a private-sector trade delegation will travel to Japan to continue strengthening ties and pushing for a trade deal with these markets," he said.

The AEBE chief underscored Ecuador's commitment to fulfilling commitments with international buyers despite global economic headwinds.

Notwithstanding the impact of armed conflicts on production costs and climate change on logistics chains, Ecuador exported 282 million boxes of bananas through August 2026 valued at $3 billion, up 9% from 2025.

Contact information
NAME: Alexandra Pacheco
TITLE: Head of Communications
PHONE: +593 992260781
EMAIL: apacheco@aebe.com.ec