UAE-Ecuador ties anchored in shared values, people-centric development: Ecuador President

Al Etihad

15 hours ago

12 Aug 2025 01:13
DR. HAMAD AL KAABI (QUITO, ECUADOR)The UAE exemplifies a model that harmonises openness and sovereignty, an approach that is key to success and development, said Ecuador's President Daniel Noboa.
In an exclusive interview with Aletihad , President Noboa highlighted the shared values that bind the two nations together, most notably peaceful coexistence, the fight against terrorism, and zero tolerance towards corruption. 'We share common values with the UAE, including a strong emphasis on family and a firm stance against terrorism and corruption. We seek partnerships based on reciprocity where both countries can thrive,' President Noboa said.The President added that Ecuador's goal of strengthening its economy could benefit from the UAE's advanced expertise in technology.'We are a country that has surplus food and water, while the UAE has been very successful in other areas, such as the oil and gas sector, AI, and technology. I think the two economies can work together for the betterment of our people.'The Ecuadorian leader also shared plans to visit the UAE this December to strengthen ties, highlighting Ecuador's tax incentives and its appeal to Emirati investors.The President stressed that a Comprehensive Economic Partnership Agreement (CEPA) with the UAE would provide UAE companies access to promising South American markets, leveraging Ecuador's strategic location near the Pacific and Atlantic trade routes.Elaborating on Ecuador's economic momentum, President Noboa described 2025 as an 'exceptional' year in non-oil exports, particularly in the food and mining sectors.In the same context, the President highlighted that the Port of Guayaquil, with its modern infrastructure and direct access to the Pacific, is a perfect trade and logistics hub for UAE investors entering Latin America and Asia.He noted that 40% of Ecuador's population is under the age of 35, making unemployment a critical challenge. To address this, he pointed out that attracting more Emirati investments and companies is key to harnessing the potential of youth and creating job opportunities for them, ultimately driving sustainable growth.Furthermore, he called on Emirati investors to contribute to Ecuador's clean energy drive by harnessing the significant potential of geothermal energy from active volcanoes and solar energy.The President pointed to the new laws enacted by his country, thanks to which Ecuador is well-positioned to attract rapid and effective investments in its diversified energy future.President Noboa also stated that trade agreements with the UAE will strengthen bilateral ties and increase investor confidence from around the world.Following is the full text of the interview:Q: In light of the CEPA negotiations between the two nations, how do you assess the significance of the partnership? Which key non-oil sectors does Ecuador anticipate will experience growth and increased investment as a result of the agreement?A: When it comes to cooperation with the UAE, I believe there's a great opportunity to further enhance the good relationship between the two nations. We are a country that has surplus food and water, while the UAE has been very successful in other areas, such as the oil and gas sector, AI, and technology.I think the two economies can work together for the betterment of our people. I am very pleased with our strong cooperation in the fields of security and counter-terrorism.I also believe that trade agreements with the UAE will strengthen our relations and increase investor confidence worldwide.Q: How would you describe Ecuador's strategic potential for UAE companies looking to expand their presence in the broader Latin American market?A: The Comprehensive Partnership Agreement between Ecuador and the UAE will provide Emirati companies with access to a promising South American economy, leveraging Ecuador's strategic location near trade routes in the Pacific and Atlantic oceans.In terms of trade, this year, we are witnessing exceptional growth in non-oil exports, particularly in food and mining.Ecuador has significant potential in copper, gold, silver, as well as silica, magnesium, and other minerals. So I think there is strong potential for growth in the mining sector.We are also seeing a good appreciation of our food products – cocoa, coffee, blueberries, bananas, plantains, shrimp, and fish. There's particularly strong potential for exporting rice and beef to the UAE.Q: Several agreements have recently been signed covering a wide range of sectors, including trade, investment, energy, mining, agriculture, food security, technology, the digital economy, health, education, tourism, infrastructure, logistics, and ports. Could you explain the significance of these agreements and their expected impact on Ecuador's development path in the short and medium term?A: For UAE investments and companies, Ecuador presents a strategic location. The port of Guayaquil is the third largest port in Latin America, after Santos in Brazil and Manzanillo in Mexico. We're a dollarised economy with low inflation, a good road network, and strong trade and container handling capabilities.Our port can serve as a strategic hub for storage and depots. Facing the Pacific, we have direct access to Asia and India, without the need to cross maritime canals. Increasingly, companies are using Ecuador as a warehousing hub for grains, fuel, and other products, directly connected to the Chinese, Indian, and Southeast Asian markets.Q: How important are UAE green investments in supporting Ecuador's efforts to meet its climate commitments, transition to a more sustainable energy matrix, and attract additional foreign green investments?A: We have an ambitious plan to diversify our energy matrix, and we are seeking investments in geothermal energy by tapping into our active volcano chain for electricity generation. We have barely exploited 1-2% of our solar capacity, so there is huge potential in solar energy.We've also amended laws to expedite investment processes – energy projects that used to take two to three years can now be established within six months. There is a significant opportunity for UAE companies in this regard.Q: How does Ecuador plan to attract more UAE private sector investors and SMEs? Are there specific initiatives or incentives designed to facilitate this?A: We're working hard on employment, especially youth employment, and strong partners like the UAE can play a vital role in this regard. Ecuador has a young population, with around 40% aged between 14 and 35, which presents a great opportunity for youth employment.Our non-oil exports are growing at a double-digit rate – close to 20% and UAE companies with their diverse experience can invest in Ecuador and employ young people.We also offer tax incentives for hiring young people: Companies hiring people under 30 receive tax deductions, with additional deductions for hiring graduates from public universities. Increasing youth employment also helps reduce violence, especially in urban areas.Q: In your view, what shared values or key priorities make the UAE a preferred strategic partner for Ecuador within the Gulf Cooperation Council?A: We share common values with the UAE, including a strong emphasis on family and a firm stance against terrorism and corruption. We seek partnerships based on reciprocity where both countries can thrive.The UAE has taken important strategic decisions, balancing openness with sovereignty to serve the best interests of its people. I'm honoured and very happy to continue strengthening our relations with the UAE. I look forward to visiting the UAE at the end of this year, in December, accompanied by my family, to further deepen the friendship between our countries.Q: How does Ecuador view the UAE's approach of 'building for future generations' rather than prioritising short-term commercial gains? Why does this long-term approach particularly resonate with and align so well with Ecuador's own development trajectory?A: We have taken a firm stance against terrorism, narcotics trafficking, and illegal mining.
Like the UAE, our top priorities are our people, safeguarding investments, and maintaining stability. We believe that our strong ties with the UAE will contribute to even greater stability.
Source: Aletihad - Abu Dhabi