The volume of trade between Qatar and Ecuador is forecasted to grow between 60% and 70% in 2016, compared to that in 2015, Ecuador ambassador to Qatar Kabalan Abisaab Neme said during a business meeting with Qatar Chamber officials yesterday.
Figures provided by the Chamber revealed that total trade volume between the two countries reached $8.3mn in 2015.
The data showed that last year Qatar imported from Ecuador $6.5mn worth of animal or vegetable fats and oils, fresh or chilled vegetables, instruments and apparatus for checking or measuring flow or level of liquids, and cut flowers for bouquets. For the same period, Ecuador imported from Qatar $1.8mn worth of polymers of ethylene (in its primary forms).
Speaking to Gulf Times on the sidelines of the meeting, the ambassador said Ecuador is open to the possibility of importing liquefied natural gas (LNG) from Qatar, citing “strong” and “very good relations” between HH the Emir Sheikh Tamim bin Hamad al-Thani and Ecuador President Rafael Correa.
He also noted that Qatari businessmen have expressed “strong interest” in investing in Ecuador, adding that several groups from Qatar visited the country in the past two years, including a major Qatari company that is investing in the oil sector.
The ambassador also disclosed that “Ezdan Group is studying” projects in Ecuador’s real estate, tourism, and construction sectors. “Only recently, more than 14 agreements were signed between Qatar and Ecuador to facilitate trade and investment between the two countries,” he said.
Qatar Chamber vice-chairman Mohamed bin Towar al-Kuwari said in his opening speech: “We have to benefit from the agreements signed between our countries and to explore areas of cooperation and investment climates.
The conditions and time are now convenient for us to boost cooperation opportunities on the economic and trade and investment levels between Qatar and Ecuador.”
He added: “Bilateral relations between Qatar and Ecuador have been growing. Both the countries have some common similarities; they are witnessing a great hub in the energy sector.
“Qatar, like Ecuador, is seeking to diversify its economy by investing in science and technology; so, Ecuador’s investment climate and business sectors are of interest to Qatari businessmen.”
Citing the UN’s Human Development Index, the ambassador said: “Among 186 countries, Ecuador is one of four countries that scaled the world range of human development. Together with Hong Kong, Ecuador climbed 10 positions to become a median human development to a high human development country.”
Ecuador ambassador Kabalan Abisaab Neme speaking at Qatar Chamber yesterday. PICTURE: Othman al-Samaraee
