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4/25/24, 3:31 PM UAE and Ecuador initiate negotiations for CEPA to boost trade, investment
UAE and Ecuador initiate negotiations for CEPA to boost trade, investment
In 2023, non-oil bilateral trade between the UAE and Ecuador reached $675 million

UAE aims to strengthen its commercial and investment presence in Latin America, promote sustainable growth. (Photo Credit: WAM)
Dr. Thani bin Ahmed Al Zeyoudi, UAE’s minister of State for Foreign Trade, and Sonsoles Garcia, Ecuador’s
minister of Production, Foreign Trade, Investments, and Fisheries, signed a joint statement in Nairobi. The
statement announced the intention to commence negotiations for a Comprehensive Economic Partnership
Agreement (CEPA) between the UAE and Ecuador. This occurred during the UAE delegation’s visit to several
Latin American countries. It follows the recent signing of similar agreements with Costa Rica and Colombia,
making them the first two Latin American countries to establish such partnerships with the UAE.
Read more: UAE, Kenya conclude terms of CEPA to expand trade in multiple sectors
The decision to pursue a CEPA underscores the UAE’s strategic objective to strengthen its commercial and
investment presence in Latin America and promote sustainable economic growth. The partnership aims to
substantially enhance bilateral trade beyond the oil sector and facilitate increased investment flows between the
two nations.
By eliminating trade barriers and promoting the exchange of various goods and services, this partnership creates
new economic opportunities for both countries in terms of exports and imports. Furthermore, it enables
Ecuadorian companies to leverage the UAE’s economic strength and favorable geographic position.
Simultaneously, it provides Emirati businesses and investors with a robust entry point into Latin American
markets, starting with Ecuador.
In 2023, non-oil bilateral trade between the UAE and Ecuador reached $675 million, marking an impressive 76
percent increase compared to 2022 and more than tripling the figures reported in 2021. Additionally, Dubai Ports
World’s substantial investment of $1.2 billion in Ecuador’s Port of Posorja demonstrates the growing economic
ties between the two countries.

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