Page 595 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)

4/7/25, 5:15 PM UAE’s Comprehensive Economic Partnership Agreements with Costa Rica and Mauritius come into force - Business - Economy and …
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. Over 97% of UAE exports to Mauritius will benefit from immediate tariff elimination or gradual tariff reduction over a
maximum of 5 years under the CEPA.

His Excellency 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
program 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.”

HE Al Zeyoudi highlighted the program’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 program currently has 27 concluded deals, expanding access for UAE businesses to
over a quarter of the world’s population.

https://www.emirates247.com/business/economy-finance/uae-s-comprehensive-economic-partnership-agreements-with-costa-rica-and-mauritius-come… 2/2