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                            A Special International Report Prepared by
                           The Washington Times Advertising Department - Published on April 21, 1999
                           [Home Page]

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Advertisers

(1) Bell South

(2)Banco del Pacifico

(3)PricewaterhouseCoopers del Ecuador Cia. Ltda.

(4)Corporación Financiera Nacional

(5)Ecuador's Free Trade Zones

(6)Andinatel

(7)Pacifictel

(8)La Universal

(9)CORPEI

(10)Hotel Oro Verde

(11)NABISCO

(12)Ecuador Ministry of Tourism

(13)Guayaquil

(14)Crowne Plaza Hotel • Casino, Quito, Ecuador

(15)JW Marriott Hotel, Quito, Ecuador

(16)Camara de Comercio, Ecuatoriano - Americana

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A Special International Report Prepared by The Washington Times
Advertising Department

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Written by
Zena Polin

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Marketing Director
Stephen Gatward

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For more information, call
The Washington Times International Advertising Department
at (202) 636-3035
(202) 635-0103 fax
e-mail: natlad@wt.infi.net

Copyright © 1999 News World Communications, Inc.

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Geography

Geography

104,506 square miles, slightly larger than Great Britain, Columbia to north, Peru to east and south, Pacific Ocean to west

Capital City: Quito (pop. 2 million) with Guayaquil (pop. 2.5 million) considered the financial center

Four Geographical Regions: Tropical Coast of Pacific; Mountain Range of the Andes (500 miles from North to South); Amazon Jungle; Galapagos Island (683 miles off the coast) and composed of 13 large and six minor islands and 42 keys. A Natural World Heritage Site.

Highest Peaks - Chimboraza - 20,700 feet, Cotopaxi at 19,642 feet the tallest active volcano in the world, Cayambe at 18,996.

Airports: Mariscal International in Quito, Simon Bolivar in Guayaquil

Seaports: Guayaquil, Esmeraldas, Puerto Bolivar (El Oro province), Manta (Manabi)

Free Trade Zones: Cuenca, Esmeraldas, Riobamaba, Manabi

Government

Official Name: Republic of Ecuador

Type of Government: Republic with three branches:

Executive branch: President Jamil Mahuad Witt and Cabinet of 17 Ministers

President and Vice President (Gustavo Noboa) elected by popular vote every four years. President cannot be immediately elected. Next election: 2002

Judicial branch: Supreme Court, President Hector Romero Parducci and 20 Superior Courts with provincial and regional courts

Legislative branch: National Congress, President Juan Jose Pons - 121 member, unicameral body.

Administrative subdivisions: 21 provinces with Quito as capital

Main political parties: Democracia Popular (center left, Christian Democratic, led by Jamil Mahuad); Partido Roldosista Ecuatoriano (populist party, led by Alvaro Noboa); Partido Social Cristiano (Social Christian Party, center-right, led by Jaime Nebot); and eight others.

Constitution: 1998

Economic Factors
Exports: $5.8 billion

Principal exports: crude oil and other oil products, bananas, shrimp, prepared fish and fish products, cut flowers, coffee, cocoa, tuna and textiles.

Potential growth exports: winter vegetables, wood products

Imports: $3.5 billion

Principal imports: consumer goods, raw materials, transportation equipment, fuel, lubricating oils

Potential growth imports: telecommunications equipment, electric power, hotel and restaurant equipment, security equipment

Major trading partners: United States, Europe, Colombia, Chile, Venezuela, Japan

1998 Statistics
GDP: 1.4%

Per Capita Income: $1,615

Minimum monthly salary, including mandatory benefits: $143

Inflation: 43.4%, substantially higher in early 1999

Foreign debt (through 11/98): $13,143.6 million

Infant Mortality: 28.4/1000

Life Expectancy: 71.4 years

Work Force: 5.5 million, Agriculture 42%, Commerce 20%, Services 19%, Manufacturing 11%.

Literacy: 90%

Social Factors
Population - 13.3 million people with 10 aboriginal cultures: indigenous 25%, Mestizo (Indigenous/Caucasian) 65%, Caucasian and others 7%, African 3%.

Language: Official language is Spanish and Quichua (Inca language). English, German and French spoken.

Religion: Predominantly Roman Catholic, but religious freedom recognized.

Independence: May 24, 1822 from Spain

Compulsory education: ages 6-14, enforcement varies.

Climate: Varied, mild-year round in the mountain valleys, hot and humid in coast and Amazonian lowlands.

Entrance/Exit Requirements
Visitors must present valid passport and proof of onward travel. Ninety days maximum granted upon request. A tourist card is filled out on arrival with a visa for 90 days. Exit tax of $25. $100 tax to enter the Galapagos. Businessmen require special visa.

Health: No vaccinations required. Travelers with heart conditions or high blood pressure should consult their physicians about high-altitude travel. Drinking bottled water is advised, except in Cuenca where 100% of the water is safe to drink.

Other
US visitors to Ecuador: 24,000 per year

Ecuadorians living in the US: Estimated 150,000 to 250,000

US citizens residing in Ecuador: 15,000

Number of US companies doing business in Ecuador: 100

Electricity: 110 volts, 60 AC

Banking hours: 9:00 am to 1:30 p.m.

Work Day: 8:00 am to 6:00 p.m., 1:00 to 3:00 p.m. lunchtime.

Local Time: Greenwich Mean Time minus five hours, minus six on the Galapagos.

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Table of Contents

(1) President Mahuad announces new economic plan

(2)
Ambassador addresses economic and political concerns

(3)
US Ambassador prepares to say "Good-bye" to Ecuador

(4)
Foreign Ministry promotes Ecuador to the international community

(5)
Banks working to promote investment and development

(6)
Who's Who in the Ecuadorian Government

(7)
On the road to peace

(8)
Doing business in Ecuador

(9)
Why Invest in Ecuador

(10)
Preparing the country for peace and promoting education

(11)
Education key to economic and social development

(12)
Useful Contacts in Ecuador

(13)
Investors will have the option of five Free Trade Zones

(14)
Free Trade Zone Incentives

(15)
Telecommunications industry prepares for privatization

(16)
Conam in charge of privatizing, modernizing and decentralizing

(17)
Promoting Ecuador's traditional and nontraditional products to the world

(18)
Ecuador's rich cultural patrimony - From Indigenous music to internationally recognized artists

(19)
Traditional products

(20)
Dining in Ecuador

(21)
Local governments balance diversity, history and growth

(22)
Protecting the environment through education and eco-tourism

(23)
Geography

(24)
Tourism is a vehicle for sustainable development

(25)
Congress plans to work with government to conquer economic crisis

(26)
Quito - A Capital City

(27)
Guayaquil - The Pearl of the Pacific

(28)
Galagapos - The Enchanted Islands

(29)
Cuenca - The Athens of Ecuador

(30)
Preparing infrastructure for international trade