High level Ecuadorian delegation aims to further strengthen Direct Investments from UAE

Business

High level Ecuadorian delegation aims to further strengthen Direct Investments from UAE

Strengthening the direct investments between the UAE and Ecuador, PRO ECUADOR - the Trade and Investment promotion organisation of Ecuador, in collaboration with theDepartment of Economic Development Government of Dubai, is organising a trade forum themed as Connecting with Ecuador.

The forum is expected to gather more than 160 business leaders from the government and private sector offering their knowledge on trade and direct investments between the countries. Among the key sectors in Ecuador that will be highlighted at the forum are flowers, mining and tourism.

Taking place on 28th of September in Ritz Carlton-Dubai, the forum will be attended by His Excellency Sami Al Qamzi, Director General of the Department of Economic Development in Dubai (DED); His Excellency H.E. Juan Francisco Ballen Mancero, Vice Minister of Foreign Trade Policy for Goods and Services, Ecuadorian Ministry of International Trade; and Antonio Ruales Garca, PRO ECUADOR Executive Director.

Hussam Hassan, Head of Commercial Office at PRO ECUADOR said The trade status between UAE and Ecuador is reaching new heights year after year. We believe that Connecting with Ecuador trade forum will play a pivotal role in further enhancing bilateral trade relations. The event also aims to promote investment opportunities in Ecuador, meanwhile, expanding its presence and trade activities with the UAE

With the GCCs increasing demand for flowers and plants, the UAE is fast becoming a major hub for botanical trading. According to experts, the UAEs plant and flower market, representing a sizable chunk of AED140 million in the GCCs flower market of AED970 million, is expected to achieve an annual growth of 20 per cent. Capitalising on this growing demand, the trade forum will highlight Ecuadors expertise in the flower and plant industry.

Santiago Andres Saa Rodriguez, director of EXPOFLORES, an Association of Producers and Exporters of Ecuadorian Flowers, will provide an overview of the vast range of Ecuadorian flowers, including roses which are deemed to be one of the best flowers in the world. Rodriguez will also share information about the countrys overall flowers and plants industry as well as how UAE flower buyers can partner and trade with Ecuadorian producers.

Among the most prominent products exported from Ecuador to the UAE in 2013 is bananas valued at AED5.11 million (US$1.4 million); roses and flowers worth AED3.7 million (US$998,000); and pulp and fruit juice worth AED2 million (US$561,000).

Meanwhile, the trade forum will also include a presentation encouraging local and regional businesses on ways to invest in Ecuador in key sectors such as mining and tourism. Also, Ecuadorian mining sector is currently characterised by several developments, which are within the ranges of mining on a large scale and will have a significant impact on the State's volume of revenue. The forum will also highlight case studies from different UAE companies that have successfully done business and partnered with Ecuador.