Ecuador is blessed with a privileged position on the world map. Located at latitude zero, the country sits right on the equatorial line, nestled between the Andes Mountains, the Pacific Ocean and the Amazon rainforest. It is one of the most bio-diverse countries in the world and is the home of the Galapagos Islands, where the fantastic and unique local flora and fauna inspired Charles Darwin to develop his theory of evolution. You can find all of this in a country with a combined land mass of slightly more than 250,000 square kilometres.
While Ecuador sits atop a significant amount of oil reserves, the country has also invested heavily in renewable energy, and, by 2016, we expect that more than 90 percent of our electricity requirements will be met through hydropower generation. We also believe the time has come for all nations to accept their responsibility to develop and execute guidelines to ensure a sustainable future for our environment, and in turn, for our people.
Ecuador is very fortunate to be led by a highly competent president, a true visionary, with the ability to efficiently execute a well-thought-out development plan. President Rafael Correa is an economist and academic who has earned a master of arts in economics at Université Catholique de Louvain, Belgium, and a master of science and PhD in economics from the University of Illinois. He is a tremendously hardworking, pragmatic and motivating leader, who enjoys immense popular support. Thanks to his leadership, Ecuador today is one of the most stable societies in the region, and has seen sustained growth as the country transitions into a thriving post-petroleum knowledge-based economy. Correa’s achievements — eliminating poverty while restoring hope in the hearts of our people — continue to advance the socio-economic development of Ecuador and strengthen its regional and international position.
In order to achieve its development goals, Ecuador has diversified its economic partners and actively works to attract responsible foreign investors. Ecuador’s laws and regulations set a modern framework for investment in our country, in accordance with the realities of the 21st Century.
The total amount of exports from Canada to Ecuador in 2014 was $377 million, and the top five products exported were meslin (rye and wheat), petroleum, lentils, newsprint and machinery.
The total amount of exports from Ecuador to Canada in 2014 was $368 million and the top five products Ecuador exported to Canada are bananas, gold, cut roses and buds, shrimp and prawns and cocoa beans.
Canadian investors are welcome in Ecuador. In fact, Canada was Ecuador’s single largest source of foreign direct investment in 2014, with more than $250 million in foreign direct investment. We have an excellent relationship with leading Canadian natural resources operators and real estate developers, among many others who have invested in profitable ventures in Ecuador. These companies have also co-operated with the government of Ecuador to develop knowledge transfer and establish public-private partnerships.
Ecuador considers Canada one of its key development partners and, as a natural progression of this relationship, we believe the time has come to initiate the process of negotiating a bilateral trade agreement that will serve the interests of both countries for years to come. Ecuador is actively seeking to engage Canadian trade and investment partners, and although progress toward initiating trade negotiations has been made, there is still a long road ahead of us.
In closing, I would like to invite Canadians to visit Ecuador. Visitors will be able to enjoy the year-round warm Pacific Ocean breeze on our beautiful beaches while eating our world-famous ceviche. Adventure-seekers will be able to reach the heights of the Andes Mountains and explore the pristine Amazon rainforest. Tourists can also visit our UNESCO World Heritage sites and taste a hot chocolate beverage made with the world’s finest cocoa beans. Of course, the enchanted Galapagos Islands are a must. There, visitors can swim with warm-water penguins and take a stroll near giant tortoises and sea lions. We look forward to seeing ever-increasing numbers of our Canadian friends enjoying the warm hospitality and friendliness that characterize the
Ecuadorean people.
Nicolás Fabian Trujillo-Newlin is
Ecuador’s ambassador. Reach him at ambassador@embassyecuador.ca or (613) 563-8206.
