This is great news. Just yesterday, Ecuador signed a trade accord with the European Union, after having backed away from such an agreement about five years ago. The country will lose its previous trade preferences, however, as it no longer qualifies as a low-income nation – they have seen an average growth of 4.6% in the economy over the last ten years. The loss to exporters in Ecuador would have been devastating, and led to thousands of job cuts. The timing of when the trade accord will take effect is still unknown.