The UK signed a trade agreement with Ecuador, Colombia and Peru in Ecuador capital's Quito on Wednesday, ahead of its planned exit from the European Union.

The deal, which was signed by representatives of the four countries in the presence of Ecuadorian President Lenin Moreno, will keep tariff preferences for the three countries in place when the United Kingdom leaves the European bloc.

"For our entrepreneurs, workers, entrepreneurs - whether large, medium, small event the the smallest ones - this agreement opens up the possibility of exporting and generating more and better opportunities", commented Ecuador Foreign Trade and Investment Minister Pablo Campana.

Ecuador, Peru and Colombia already have in place a trade agreement with the European Union.

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