Agustín Ontaneda: Bridging Ecuador and the UAE for economic growth and cultural exchange

In an exclusive interview with Agustín Ontaneda , the CEO and founder of the Ecuadorian-Emirati Chamber of Commerce, Industries, and Tourism (CCEATI) , we delve into his visionary plans to strengthen economic ties between Ecuador and the United Arab Emirates. With a focus on fostering bilateral trade, investment opportunities, and cultural exchange, Mr. Ontaneda shares insights into CCEATI's strategies for promoting sustainable development and innovation. He highlights the importance of establishing a presence in the UAE, collaborating with educational institutions, and leveraging Ecuador's potential to contribute to the UAE's food security. This conversation sheds light on the challenges and opportunities that lie ahead as CCEATI works to create lasting connections between these two dynamic regions. What is the long-term vision of the CCEATI to strengthen economic ties between Ecuador and the United Arab Emirates? Our long-term vision is to establish CCEATI in Dubai as a branch of the main office in Ecuador to strengthen ties between Ecuadorian and Emirati entrepreneurs. This will provide financial and logistical support for our members. Having a base in the UAE will enable CCEATI to represent and promote our country's name more effectively. We believe this will be the start of great opportunities, allowing us to solidify political, diplomatic, commercial, and logistical relations. How does CCEATI plan to promote bilateral trade and investment opportunities? Our plans include bringing CCEATI to the UAE as our first step to strengthen bilateral relations. We will also participate in trade fairs in the UAE later this year, which we believe will be a significant step in showcasing the high-quality products Ecuador produces. Additionally, we will continue to work on strengthening relationships with various Chambers of Commerce in the UAE to secure the commercial and investment support we need. Which specific sectors or industries does CCEATI intend to focus on in its collaboration with the UAE? There are many sectors that can be developed between the UAE and Ecuador, including real estate, mining, renewable energy, and free zones. However, leveraging our strengths, CCEATI will aim to enhance and reinforce the agro-industrial sector of our country, focusing on superfoods and healthy snacks, among others. Are there any joint initiatives or projects in the works that will enhance commercial relations between the two nations? Yes, during the recent visit of the Minister of Foreign Trade, His Excellency Dr. Thani Al Zeyoudi, a preliminary agreement for the CEPA was signed. Additionally, the decision by the Ministry of Production to open an Ecuadorian embassy in Abu Dhabi and a commercial office in Dubai are government initiatives that support the private sector in its internationalization efforts to the UAE. How does CCEATI plan to facilitate knowledge exchange and cultural understanding between Ecuadorian and Emirati businesses? We aim to establish Memorandums of Understanding with universities, such as the University of Dubai, focusing on technology transfer, student exchange programs, and scholarships related to international business and entrepreneurship. This exchange will foster awareness and appreciation of the diverse and complex cultural aspects that shape the identities, values, beliefs, and behaviors of people and their nations, thus promoting cultural understanding and business growth. What role does CCEATI see itself playing in promoting sustainable development and innovation in both countries? CCEATI seeks to meet the needs of present generations without compromising the possibilities of future generations, focusing on three key factors: society, economy, and environment. We will actively participate in innovation projects that improve the quality of life in our society, protect the planet, and drive economic development in our country. CCEATI will invite UAE authorities to promote resilient infrastructure innovation and create sustainable communities capable of producing, consuming, and trading sustainably for critical food security. How does CCEATI engage with UAE-based companies and investors to attract them to Ecuador? CCEATI collaborates with strategic partners such as Chambers of Commerce, free zones, trade fairs, and trade missions. Bilateral support is vital to creating this business synergy, and we are confident that the ties, opportunities, and connections will develop favorably for Ecuador. What challenges or obstacles does CCEATI foresee in strengthening bilateral relations, and how do you plan to overcome them? One major challenge is political, particularly changes in the government in Ecuador. To address this, we plan to formalize the opening of a CCEATI branch in Dubai, which will help maintain trust with the private sector. There is a distinction between government and private sector dynamics. What lessons can Ecuador learn from the UAE's model of economic diversification and growth? Ecuador can learn a lot from the UAE, including developing new products or services, adopting business models like Family Business, creating logistics hubs and free zones, directly investing in new businesses, ensuring legal security for investors, simplifying procedures for obtaining business permits and brand registrations, and signing trade and investment agreements with the rest of the world. How does CCEATI envision the future landscape of trade, investment, and cultural exchange between Ecuador and the UAE? The success of the relationship between the two countries is seen as a long-term endeavor. Ecuador can play a key role in food security, as the UAE looks for partners to support this industry. Ecuador aims to meet the three "C's": Quality, Quantity, and Continuity. As CEO of CCEATI, I firmly believe that the UAE, with its technological, industrial, tourism, and commercial developments, is the management model Ecuador seeks as a strategic partner, especially taking advantage of one of the world's major distribution centers. My philosophy is to maximize human potential; we are creators of success! (C) Latin&Gulf – 2024

Agustín Ontaneda: Bridging Ecuador and the UAE for economic growth and cultural exchange

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H.H. Sheikh Hamdan appointed as UAE Deputy PM, Minister of Defence

Chilean President Gabriel Boric will visit the United Arab Emirates to Fostering Bilateral Relations

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