The Dubai Chamber of Commerce and Industry, in collaboration with PRO ECUADOR, the Trade and Investment Promotion Organisation of Ecuador, organised a trade forum “Doing Business with Ecuador, 2nd Edition”, at the Chamber premises recently.
Attended by more than 35 UAE companies, the forum brought together key buyers from differ-ent sectors including shrimp, wood, bananas, snacks and coffee, which have seen significant growth and demand in the UAE.
Among the speakers present at the event were Mr. Atiq Juma Nassib, Senior Vice President, Commercial Services Sector, Dubai Chamber, Hassan Al Hashemi , Vice President – International Relations of the Dubai Chamber and Mr. Hussam Hassan, Head of Commercial Office, PRO ECUADOR.
A leading agricultural producer and exporter of banana products, Ecuador’s export to the UAE reached 2,094 tonnes to the value of USD 1.2 million in 2014. This leading Latin American coun-try has been attracting many UAE based companies to explore business prospects and seek sourcing opportunities from various industries in Ecuador.
The rise of urban population in the UAE that is expected to reach 7.9 million by 2020, according to the World Urbanization Prospects report, leading to the increase of the country’s food mar-ket. Furthermore, the World Bank projects the Middle East and North Africa (MENA) region’s food market could exceed AED3.65 trillion (US$1 trillion) by 2030.
Mr. Atiq Juma Nassib, Senior Vice President, Commercial Services Sector, Dubai Chamber, stated that Ecuador is an important emerging economy in Latin America. The country’s economy has grown at an above average rate of 4.3%, he said adding that last year Dubai-Ecuador non-oil trade reached a value of AED 54.5 million.
“We see mutual growth potential in travel and tourism, food security, shipping, construction and real estate in the medium and long term between the two countries which can open up new opportunities for mutual partnerships,’’ he added.
Nasib further stated that Dubai is the leading business and investment hub offering a safe and stable base in the high-growth Middle East region, as well as easy connectivity to Europe, Asia and Africa, excellent infrastructural and financial services and fast growing and diversified economy.
“I would like to encourage more Ecuadorian companies to consider Dubai as an advantage to their business and invite them to set up base here to reach out to their trading partners in the region and beyond,’’said Nasib.
On its part, Pro Ecuador presented the strong trade relations enjoyed by the two countries and how to further strengthen and capitalise the immense opportunities of trade and investment in the future , hence, establishing Dubai as a trade hub for Ecuadorian products to the rest of the region.
A Dubai Chamber presentation highlighted the solid bilateral ties enjoyed by the two countries in the areas of fruits, shrimps, coffee and wood.
“Our collaboration with Dubai Chamber of Commerce is in line with our objective of strength-ening the trade relations between the UAE and Ecuador. As the UAE’s market continues to flourish in various sectors, PRO ECUADOR aims to meet the growing demands of the country with the rich and quality products of Ecuador,” said Hussam Hassan, Head of the Ecuadorian Commercial Office in Dubai.
“With major plans of reaching new markets for Ecuadorian products through the UAE as a re-gional gateway for trade and exports, ‘Doing Business with Ecuador’ event provides the perfect platform for the two countries in fortifying their bilateral trade relations for years to come,” Hassan said.