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This partnership is expected to unlock new economic prospects for both nations, allowing
Ecuadorian companies to benefit from the UAE's economic strength and strategic location. It also
offers Emirati businesses a valuable gateway into the Latin American market, starting with Ecuador.
The burgeoning economic relationship between the two countries is evidenced by a significant
increase in non-oil bilateral trade, which soared to $675 million in 2023. This figure represents a
76% rise from 2022 and more than triple the trade volume recorded in 2021.

Additionally, Dubai Ports World's investment in Ecuador's Port of Posorja, amounting to $1.2 billion,
underscores the growing economic connections between the UAE and Ecuador. Dr. Al Zeyoudi
highlighted that initiating negotiations with Ecuador is in line with the UAE's ambition to establish
itself as a leading global hub for trade, investment, and logistics. He pointed out the vast
opportunities for deeper economic integration between the two countries across various sectors
including agriculture, tourism, infrastructure, technology, and renewable energy.

Minister Garcia echoed these sentiments by emphasizing the evolving trade relations between
Ecuador and the UAE. She noted that beginning CEPA negotiations signifies a crucial step towards
broadening economic ties and fostering active engagement from both nations' business
communities, private sectors, and investors. This partnership not only strengthens bilateral
relations but also promotes sustainable economic development for both countries.

The agreement between the UAE and Ecuador reflects a shared commitment to advancing
cooperation across multiple economic areas. It sets a foundation for future collaboration that
promises to bring mutual benefits and contribute significantly to the economic prosperity of both
nations.

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