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Al Etihad
11-08-2025
- Business
- Al Etihad
UAE-Ecuador ties anchored in shared values, people-centric development: Ecuador President
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 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 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 on Ecuador's economic momentum, President Noboa described 2025 as an 'exceptional' year in non-oil exports, particularly in the food and mining 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 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 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 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 Noboa also stated that trade agreements with the UAE will strengthen bilateral ties and increase investor confidence from around the 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 terms of trade, this year, we are witnessing exceptional growth in non-oil exports, particularly in food and 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 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 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 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 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 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 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
Al Etihad
20-07-2025
- Business
- Al Etihad
UAE-Hungary ties poised for further growth fuelled by tech, investment cooperation: Hungary FM
20 July 2025 22:58 HAMAD AL KAABI AND MOHAMMAD GHAZAL (BUDAPEST)The mutual visits of the UAE and Hungary leaders have added momentum to the growing strategic relations between Abu Dhabi and Budapest, according to Hungary's Foreign Minister Péter Szijjártó. In an exclusive interview with Aletihad on the sidelines of President His Highness Sheikh Mohamed bin Zayed Al Nahyan's visit to Hungary, Péter Szijjártó said his country always regarded cooperation with the UAE as strategically significant. 'The visit of Prime Minister Viktor Orbán in January to Abu Dhabi has given a total new impetus to the relations. 'Since then, we have been witnessing a significant progress - particularly in the growing interest of UAE investors in Hungary and the intensification of trade between the two nations.' UAE investors have shown strong interest in sectors such as healthcare, real estate, energy, and tourism, he said. On the trade front, Hungary has exported more than 900 tonnes of cheese, 15 tonnes of pharmaceutical products, and 18 tonnes of honey to the UAE since January, the Foreign Minister said. Moving to broader trends, the Hungarian Foreign Minister highlighted the importance of adapting to the global technological transformation. 'We understand that the global economy is going through a huge technological revolution. This revolution is being built around the usage of AI and digital applications, so whoever is going to be the quickest and the most effective in utilising AI and digitalisation will be the successful actor in global politics and the global economy in the future. The UAE has been performing very well in these strategic sectors.' He added that the UAE's expertise in the tech sector is an asset for Hungary as it seeks to accelerate its own development. The UAE has always embraced the trends of the times – from the era of pearling to oil, and now to a diversified economy, the Foreign Minister said. 'Economic diversification gives us an opportunity to collaborate. We are also working to transition from a production-driven economy to one that is driven by research and development. For that, we need advanced technological capabilities and rapid adoption of digital and AI solutions – areas where the UAE is a global leader.' The Foreign Minister also pointed to the potential of a free trade agreement with the GCC countries, calling it key for future growth. Highlighting Hungary's investor-friendly climate, he said: 'We offer the lowest corporate tax rate in the European Union, with a single-digit corporate income tax. Hungary also provides a strategic location, and our 'one-stop shop' service for foreign direct investment makes it easy and efficient for investors to manage operations.' He added: 'We offer a wide range of incentives to investors, making Hungary an attractive destination.' The Minister emphasised Hungary's policy of economic neutrality and its proactive approach to attracting investment. 'We aim to bring the world's biggest companies to Hungary. We are heavily investing in creating a world-class business environment.' Looking ahead, he said: 'We look forward to welcoming more UAE investments. Investors from the UAE can count on the full support of our government and benefit from Hungary's favourable business climate.' Turning to regional and international developments, the Foreign Minister reaffirmed Hungary's support for the UAE's global peace campaign and its role as a stabilising force in the Middle East. 'We are grateful for the UAE's smart foreign policy, which has helped stabilise the region's security situation. We all know that instability in the Middle East can pose serious global security risks.' The Hungarian Foreign Minister praised the UAE's diplomatic approach: 'I commend the smart and cool-headed foreign policy of the UAE led by the Foreign Minister, His Highness Sheikh Abdullah bin Zayed Al Nahyan, to ease tensions in the region.' Péter Szijjártó also underscored the importance of global partnerships in combating extremism and fostering peace. 'We must build alliances based on dialogue and mutual understanding. The UAE is at the forefront of these efforts. Mutual respect, trust, and diplomacy can bring lasting results for all.'
Al Etihad
01-05-2025
- Business
- Al Etihad
Lebanon President: Beirut's ties with UAE returning to their natural state
2 May 2025 00:42 HAMAD AL KAABI (ABU DHABI)Joseph Aoun, President of the Republic of Lebanon, affirmed that the fraternal relations between the UAE and Lebanon are on track to return to their natural state and noted that his meeting with President His Highness Sheikh Mohamed bin Zayed Al Nahyan 'exceeded expectations.'President Aoun highlighted His Highness' reaffirmation of the UAE's supportive stance towards strengthening Lebanon's state institutions in safeguarding the nation's sovereignty, security and stability, as well as the UAE's support for Lebanon's unity and territorial integrity. He considered this stance a testament to the deep-rooted and historical fraternal relations between the two the Lebanese President noted that the UAE is home to around 190,000 Lebanese residents who play an active role in strengthening bilateral ties. He praised the attention and care they receive in the UAE, reflecting the mutual respect and strong bonds of affection between the two brotherly Aoun's remarks came during a meeting with editors-in-chief of local newspapers, held on the sidelines of his official visit to the UAE. The visit included high-level discussions with His Highness Sheikh Mohamed bin Zayed at Qasr Al Shati in Abu response to a question from Aletihad during the meeting, President Aoun revealed that the coming period will witness new economic legislative reforms, particularly following the recent approval of the Banking Reform Law in Lebanon. This will be followed by a law addressing the financial gap, in addition to several upcoming security, judicial and economic reaffirmed his administration's commitment to continue with the reform agenda that the government has already begun implementing. These reforms aim to achieve economic recovery and growth. He stated that both political and security efforts are progressing towards stability and that extensive work is being done to improve economic and living conditions through a comprehensive package of structural Aoun expressed optimism regarding the agreements Lebanon has signed with the World Bank and noted that the country is close to finalising a deal with the International Monetary Fund. This follows the recent visit of a Lebanese ministerial delegation to IMF and World Bank meetings in Washington, which he described as President also addressed the issue of depositors' funds in Lebanese banks, reiterating that the law will be applied equally to both Lebanese and non-Lebanese depositors in ensuring accountability. He also expressed hope for the return of gas exploration companies under the existing agreements, especially following the completion of maritime border outlined the accomplishments achieved in recent weeks, despite the prevailing challenges, in the current government's term of less than 100 days. He described these achievements as reasonable and measured, emphasising his administration's resolve to advance Lebanon towards a new phase of progress, development, and President noted that Lebanon's security situation is under control and, in fact, better than in many other countries, despite what he described as 'a suffocating financial crisis', exacerbated by the presence of around one million Syrian refugees in addition to Palestinian camps. He commended the strong efforts of the Lebanese security agencies, which are operating with great this regard, he praised the Lebanese Army for its tremendous efforts, noting that its operations are ongoing south of the Litani River despite geographical challenges and limited he did not elaborate on the issue of Hezbollah's arms north and south of the Litani River, he acknowledged the immense burden carried by the Lebanese Army and said the current focus is on defusing the threat of war in the south. President Aoun stated that the decision to confine weapons to the state has already been taken - but through dialogue and addressing concerns, not through force that could lead to civil war, which he categorically rejected under any circumstances.
