This joint statement was given within the framework of the official visit of Minister Al Zeyoudi, together with a high-level Emirati trade mission, who carried out various activities, including visits and tours to flower and blueberry plants, where they learned about their processes. productive and the work carried out prior to export. In addition, they held important meetings with ministers and representatives of State Portfolios of strategic sectors and Ecuadorian businessmen, which reflects the commitment of both parties to fruitful cooperation.

Minister Sonsoles García stated that charting the path for the negotiations of a trade agreement will allow Ecuador to reach more products not only to the United Arab Emirates but also to other nations in the Middle East and Africa. In addition, she pointed out that the Asian country has shown its interest in investing in various sectors.

For his part, the Emirati minister, Thani Bin Ahmed Al Zeyoudi, expressed his approval with the announcement of the early start of negotiations for a Comprehensive Economic Partnership Agreement. “We are convinced that this will be an added value for the bilateral economic and commercial relations between both nations and we hope to conclude it in a very short period,” he said.

In the period 2019 – 2023, the United Arab Emirates has been an important market for Ecuadorian non-oil exports, representing a total of USD 1,166 million. In 2023 alone, USD 601 million were generated, which placed the Asian country in the sixth destination behind China, the United States, the European Union, Russia and Colombia.

In the last year, among the main Ecuadorian non-oil export products that were sent to said destination, the following stand out: gold with a share of 76.2%, followed by bananas with 13.9%, shrimp 6.6% and natural flowers 1.9%. Negotiations towards an Ecuador and United Arab Emirates trade agreement will cover key areas such as trade in goods and services, investments and economic cooperation.

Meetings with various sectors

In a high-level meeting, the Emirati trade mission learned about the country’s investment project portfolio and the productive sectors with great potential, such as agribusiness and renewable energies. The presentation was led by Minister García and was attended by the Minister of Public Works and Energy and Non-Renewable Resources (e) Roberto Luque; the secretary of Public Private Partnerships, Pablo Cevallos, and representatives of the Agriculture and Tourism portfolios.

The agenda of the Emirati mission concluded with a meeting between the country’s productive sectors and their Middle Eastern counterparts. Ministers Sonsoles García and Thani Bin Ahmed Al Zeyoudi led the meeting, with the purpose of establishing ties in the face of the imminent development of trade relations.