Page 581 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)

UAE’s Comprehensive Economic Partnership Agreements with Costa Rica, Mauritius come
into force

• Wednesday, April 2, 2025 10:49 AM
• 2 minutes Reading

ABU DHABI, 2nd April, 2025 (WAM) -- Two of the United Arab Emirates’ Comprehensive Economic
Partnership Agreements (CEPA) have come into force today, laying the foundation for increased
trade and investment with the strategically located and rapidly emerging economies of Costa Rica
and Mauritius.

Now in force, the UAE-Costa Rica and UAE-Mauritius CEPAs will reduce tariffs on a wide range of
goods, simplify customs procedures, and establish pathways for investment into high-priority
sectors both in the UAE and across the Central American and African markets.

The two deals mark the seventh and eighth of the UAE’s Comprehensive Economic Partnership
Agreements to come into force, following the successful roll-out of CEPAs with India, Türkiye,
Indonesia, Cambodia and Georgia since the launch of the programme in 2021.
As the nation seeks to increase its foreign trade to AED4 trillion (US$1.1 trillion), it currently has
twelve further deals signed and awaiting ratification with markets around the world, consolidating
its status as a trade facilitator and global gateway for goods and services.

Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade, said, “The implementation of
our Comprehensive Economic Partnership Agreements with Costa Rica and Mauritius reflects a
significant step forward in our nation’s foreign trade programme and its aim to establish stronger,
more integrated trading relationships with the most dynamic markets around the world.

These CEPAs, enhancing connectivity to centres of growth in Central America and Africa, are a
catalyst for deeper economic collaboration, unlocking a range of opportunities for our private
sector and driving forward our shared goals, from enhancing food security to accelerating clean
energy adoption.”

Al Zeyoudi highlighted the programme’s contribution to record non-oil trade in 2024, which reached
an all-time high of US$817 billion, marking a 14.6% increase over 2023. The CEPA programme
currently has 27 concluded deals, expanding access for UAE businesses to over a quarter of the
world’s population.

The UAE-Costa Rica CEPA, which was signed April 2024, builds on non-oil trade of more than
US$82.6 million in 2024, following substantial growth of 27.5% compared 2023.

Under the CEPA, 99.8% of UAE exports to Costa Rica will benefit from zero or reduced customs
duties. The partnership will also help to facilitate strategic capital exchange, adding to the UAE’s
approximate US$673 million already invested in Central America.

Opening access to one of Africa’s most promising economies, the UAE-Mauritius CEPA is projected
to boost the value of non-oil bilateral trade from its current US$209.8 million to US$500 million
within five years, including a fourfold increase in UAE exports to Mauritius.

https://www.wam.ae/en/article/15hwwqg-uae%E2%80%99s-comprehensive-economic-
partnership