The United Arab Emirates' Minister of Commerce, Thani Al Zeyoudi, is visiting Ecuador, accompanied by a delegation of businessmen and state officials. This visit includes a scheduled meeting with Ecuador's President, Daniel Noboa, aiming to enhance bilateral relations and facilitate the advancement of a commercial agreement. The Ministry of Production of Ecuador has indicated the significance of this meeting in strengthening bilateral ties and initiating trade agreement negotiations, a topic introduced last February.
Despite the absence of a formal trade agreement, the commercial relationship between the two nations has seen growth over the past five years, with Ecuador exporting products including bananas, other fruit, and much more to the United Arab Emirates. In 2023, Ecuador's exports to the United Arab Emirates amounted to USD 601 million, against imports of USD 18 million, showcasing a trade surplus in favor of Ecuador.
During the WTO Ministerial Conference held in Abu Dhabi earlier this year, the United Arab Emirates expressed interest in investing in Ecuador's agribusiness, tourism, mining, and renewable energy sectors. Meetings have also been conducted with Ecuadorian sectors that have high export potential, such as the flower and blueberry industries, in the provinces of Cotopaxi and Pichincha.
Source: ecuadortimes.net
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