The Government of the United Arab Emirates is interested in investing in renewable energy and in the creation of a regional distribution hub in Ecuador.
The Minister of Production, Sonsoles García, with the Minister of Commerce of the United Arab Emirates, Thani AI Zeyoudi, at the 13th Ministerial Conference of the WTO.
The Governments of Ecuador and the United Arab Emirates agreed to begin negotiations on a trade agreement, reported the Minister of Production and Foreign Trade, Sonsoles García, on her social networks.
García met on February 28 with his Emirati counterpart, Thani Al Zeyoudi, who is hosting the 13th Ministerial Conference of the World Trade Organization (WTO).
The ministerial meeting is held until February 29, 2024 in Abu Dhabi, capital of the United Arab Emirates.
“We highlight Ecuador’s interest in negotiating a trade agreement, to which Dr. Al Zeyoudi proposed starting negotiations, with a view to concluding it during the course of this year,” García wrote in a message published on his social networks.
At the meeting, both authorities discussed the potential of the bilateral trade relationship, García reported on his social networks.
“We recognized the mutual interest in deepening and consolidating this relationship, especially in sectors such as agriculture, agroindustry, mining and renewable energies,” explained the Minister of Production.
In 2023, Ecuador exported a value of USD 601 million to the United Arab Emirates, while imports reached a value of USD 18 million, so the trade balance is favorable for Ecuador.
García added that the Government of the United Arab Emirates is interested in investing in renewable energy, logistics services and the creation of a regional distribution hub in Ecuador.
