Page 590 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)

4/7/25, 5:15 PM UAE’s CEPA with Costa Rica, Mauritius come into force – The Gulf Time Newspaper
UAE’s CEPA with Costa Rica, Mauritius come into force

ABU DHABI/WAM

Two of the United Arab Emirates’ Comprehensive Economic Partnership Agreements (CEPA) have come into force on
Wednesday, 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, Israel, 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 ($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 $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 $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

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