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Qatar & Ecuador working to boost trade

Qatar-Ecuador bilateral trade has been growing fast over the last few years. The two-way trade volume is expected to witness a sharp jump of over 60 percent in 2016 compared to last year, according to Kabalan Abisaab, the Ambassador of Ecuador to Qatar.

Given the wide-range of opportunities of bilateral cooperation, both the counties, including private businesses, are working very closely to give the trade and investments a major boost in the coming years.

Witnessing a steady growth, the trade volume between the two countries during 2011-2014 jumped to more than double. The total bilateral trade volume in 2011 stood at $6m which increased by 136.6 percent to $14.2m in 2014.

However, 2015 was an exceptional year, when the trade volume declined to $8.3m, understandably a reflection of the global economic uncertainties.

Qatar’s imports from Ecuador in 2015 increased to $6.5m, highest since 2011, while its exports to Ecuador touched $8.5m in 2014, which was all time high since 2011. In 2015 Qatar’s exports to the Latin American nation declined sharply to $1.8m, which caused a decline in bilateral trade volume for the first time since 2011.

Read more at The Peninsula
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