Key Facts
— Key Points This is part of The Rio Times’ daily coverage of Ecuador affairs and Latin American financial news.
In a conference room at Dubai’s World Government Summit, Ecuadorian Trade Minister Luis Alberto Jaramillo and his Emirati counterpart Thani bin Ahmed Al Zeyoudi shook hands over six months of negotiations condensed into 19 technical disciplines — from market access and rules of origin to intellectual property and services.
The result is the most ambitious trade pact Ecuador has struck with a Middle Eastern nation, and it could reshape how the small Andean economy feeds one of the world’s wealthiest consumer markets.
The Comprehensive Economic Partnership Agreement, known by its English acronym CEPA, will be formally signed in March when a high-level Emirati delegation of officials and business leaders visits Quito. “The negotiation is closed — now comes the signing,” Jaramillo told Ecuadorian broadcaster Teleamazonas on Monday.
Under its terms, 98% of Ecuadorian products covered by the agreement will receive preferential access to the Emirati market, with three-quarters entering duty-free the moment the deal takes effect.
Ecuador’s top-ten exports to the world — shrimp, fresh roses, bananas, frozen vegetables, processed tuna — will be fully liberalized from day one.
The remaining goods face a phased tariff reduction stretching up to ten years, covering everything from livestock and aquaculture to textiles, furniture, auto parts, and electronics.
The numbers tell a story of untapped potential. In 2024, Ecuador’s non-oil exports to the UAE totaled $261 million, with more than 310 companies shipping over 70 different products.
Ecuador–UAE trade pact opens gateways
The government believes the CEPA can push total exports toward $1 billion annually by 2030 — a nearly fourfold increase. Ecuador’s exporters’ federation, Fedexpor, is even more optimistic, projecting a 30% annual growth rate in non-oil shipments once the agreement enters force. But the deal’s significance extends well beyond the bilateral trade figures.
As Jaramillo himself noted, the UAE’s 11 million residents are only part of the equation: “Emirates is also a regional hub.” Dubai’s position as a logistics and re-export gateway to the broader Gulf, South Asia, and East Africa means that Ecuadorian roses, cocoa, and tuna entering the Emirati market can radiate outward to hundreds of millions of additional consumers.
For the UAE, Ecuador fits neatly into a food security strategy that has grown increasingly urgent. The Emirates imports more than 90% of its food, and its National Food Security Strategy 2051 has made diversifying supply sources a national priority.
Emirati officials have reportedly described Ecuador as “the Switzerland of Latin America” — a compliment that reflects both its geographic compactness and its agricultural productivity.
The UAE sees opportunities to invest in Ecuadorian cacao, rice, shrimp farming, tuna processing, and even oil and mining, according to Jaramillo.
This CEPA will be the UAE‘s latest in a sprawling network of more than 27 such agreements, part of an ambitious campaign to position itself as a global trade hub while reducing dependence on hydrocarbon revenues.
The timing of the deal carries particular weight for President Daniel Noboa. The agreement was clinched during the same Dubai trip where he opened Ecuador’s new embassy in the Emirates and inaugurated a commercial office — diplomatic infrastructure that did not exist until December 2025.
It also comes as Ecuador is embroiled in an escalating trade war with neighboring Colombia, its largest regional trading partner. Since February 1, reciprocal 30% tariffs between the two Andean nations have disrupted roughly $2.3 billion in annual bilateral commerce, with truckers and merchants protesting at border crossings.
Colombia has also suspended electricity exports to Ecuador — a painful blow for a country that suffered widespread blackouts during a 2024 energy crisis.
In that context, the UAE deal is not just a commercial agreement — it is a signal that Noboa is looking to rebalance Ecuador’s trade relationships eastward, reducing vulnerability to disputes with neighbors that can turn toxic overnight.
Challenges remain before any cargo ships sail under preferential terms. The agreement must pass through legal review and translation in both countries before ratification, and a separate bilateral investment treaty signed in December 2025 is still stuck at Ecuador’s Constitutional Court — delayed, embarrassingly, by translation errors in the Spanish text that required a presidential decree to correct.
A Fedexpor trade mission to Dubai in late January found strong interest from distributors in Ecuadorian bananas, canned palmito, frozen tuna, and cocoa powder, but also revealed the work ahead in adapting products to a premium market with exacting quality and packaging standards.
Still, the strategic logic is hard to argue with. For a small economy that has historically shipped raw commodities to a handful of familiar destinations, gaining zero-tariff access to a wealthy Gulf market that functions as a springboard to Asia and Africa represents a genuine inflection point.
Whether Ecuador’s exporters can seize it — scaling production, meeting standards, and navigating an unfamiliar business culture — will determine if this agreement becomes a transformational chapter or just another signed document gathering dust in a ministry drawer.
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