Page 588 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)

4/7/25, 5:15 PM UAE to raise investments in Costa Rica, Mauritius as free trade deals come into force

The two deals mark the seventh and eighth of the UAE’s CEPAs to come into force, following the
successful rollout of agreements with India, Israel, Türkiye, Indonesia, Cambodia and Georgia since
the launch of the program in 2021.

Partnerships to facilitate strategic capital exchange

The UAE-Costa Rica CEPA, which was signed in April 2024, builds on non-oil trade of more than
$82.6 million in 2024, following substantial growth of 27.5 percent compared to 2023. Under the
CEPA, 99.8 percent 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 $673 million already invested in Central America.

Opening access to one of Africa’s most promising economies, the UAE-Mauritius CEPA is also
projected to boost the value of non-oil bilateral trade from its current $209.8 million to $500 million
within five years, including a fourfold increase in UAE exports to Mauritius. Over 97 percent of
UAE exports to Mauritius will benefit from immediate tariff elimination or gradual tariff reduction
over a maximum of 5 years under the CEPA.

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

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