Page 444 - MOE ENGLISH PR REPORT - MAY 2025 (Part 1)_Neat

5/28/25, 10:39 AM On behalf of UAE's President, Thani Al Zeyoudi attends inauguration of President of Ecuador for new term
President Noboa expressed his sincere thanks and appreciation for the UAE's
participation in the presidential inauguration ceremony, praising their mutual desire
to consolidate friendly relations between the two countries. He wished the UAE
continued prosperity, and stated his confidence that their positive future relations
will help to achieve the development goals of their two peoples.

The presence of Al Zeyoudi, on behalf of the President of the UAE, at the
presidential inauguration ceremony reflects the depth of the friendly relations
between the UAE and Ecuador, and the mutual desire of the two countries to
continue to elevate these relations to new levels.

Al Zeyoudi stressed that trade and investment relations between the UAE and
Ecuador are set to flourish, thanks to the Comprehensive Economic Partnership
Agreement which the two countries are currently continuing constructive
negotiations towards. These negotiations are reaching the final stages.

Al Zeyoudi said that the two countries can build on their non-oil bilateral trade,
which reached USD 360.7 million in 2024, by providing new opportunities for the
business communities of both sides to build new trade and investment partnerships.
Al Zeyoudi noted that Ecuador is a promising market for UAE non-oil exports,
which increased 46 per cent in 2024 to USD 37 million. He stated these figures can
double by reducing or eliminating customs duties and removing barriers to trade
and investment flows as part of the Comprehensive Economic Partnership
Agreement.

Hei added that Ecuador offers many promising investment opportunities for the
UAE business community in key sectors such as agriculture, renewable energy,
mining and logistics, highlighting DP World's successful investment in expanding
and modernizing the Ecuadorian port of Posorja with investments worth USD 1.2
billion.

During the visit, Al Zeyoudi held a number of meetings with ministers and senior
officials in Ecuador, in the presence of Ibrahim Salem Al Alawi, UAE Ambassador
to Peru, Non-Resident Ambassador Extraordinary and Plenipotentiary of the State
to Ecuador, including bilateral meetings with Luis Aberto Jaramilo Granja, Minister
of Production, Foreign Trade, Investments and Fisheries, Roberto Kury, Minister of
Communications and Information Society, and Humberto Plaza, Minister of Urban
Development and Housing.

During these meetings, they discussed ways to increase bilateral cooperation in
sectors of common interest, and ways to provide more opportunities for the business
communities to build new investment and trade partnerships that stimulate
economic growth and shared prosperity. (ANI/WAM)

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