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BAE accounts for 30% of Ecuador's trade with Arab and African countries: Al Zeyoudi

WAM Bot • 02.03.2026 09:46
ABU DHABI, March 2, 2026 (WAM) -- Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi stated that the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Ecuador represents a strategic turning point in advancing bilateral economic and trade relations in line with sustainable development priorities. Speaking to the Emirates News Agency (WAM), Al Zeyoudi noted that trade and investment relations between the two countries have shown continuous growth, with non-oil trade reaching 373.6 million USD in 2025, reflecting a 3.2% increase compared to 2024 and more than three times the level of 2019. Dr. Al Zeyoudi emphasized that the UAE is Ecuador's largest trading partner in the Arab world and on the African continent, accounting for approximately 30% of Ecuador's total trade with countries in these regions. He mentioned that both countries have signed an Investment Promotion and Protection Agreement aimed at providing a transparent and stable environment by reducing risks for foreign direct investment flows, protecting intellectual property rights, and establishing clear dispute resolution frameworks. This situation reflects the strength of bilateral relations while providing an effective platform to facilitate trade and investment and build networks. He also highlighted the opening of Ecuador's trade office in Dubai to support collaboration with the private sector. Al Zeyoudi stated that CEPA aims to eliminate or reduce customs duties on more than 96% of traded goods and products, thereby improving market access for exports and strengthening supply chains. He explained that the agreement provides a trade and investment corridor connecting the UAE to Latin American markets, supporting the UAE's status as a global trade hub and enabling Ecuadorian companies to expand into Asian, Middle Eastern, and European markets. Additionally, it will increase investments in vital sectors, strengthen private sector partnerships, and support collaboration among small and medium-sized enterprises. Dr. Thani Al Zeyoudi noted that the agreement benefits various sectors, highlighting significant complementarity in areas such as renewable energy, agriculture, logistics services, technology, food production, artificial intelligence, advanced manufacturing, mining, education, capacity building, tourism, and hospitality. He emphasized that the existing cooperation in the logistics sector provides a solid foundation for further expansion under the agreement. (Source: WAM.ae)