Quito [Ecuador], May 25 (ANI/WAM): On behalf of UAE President Sheikh Mohamed bin Zayed Al Nahyan, Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, today attended the inauguration of Daniel Noboa as President of the Republic of Ecuador for a new term, in the Ecuadorian capital Quito.

Al Zeyoudi conveyed the congratulations of President Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, to the President of Ecuador. On behalf of both the leadership and people of the UAE, he also wished President Noboa continued success in achieving all the aspirations of the people of Ecuador.

For his part, Ecuadorian President Daniel Noboa conveyed his greetings to President Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court.

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)