Page 638 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)

4/7/25, 5:18 PM UAE's Trade Agreements with Costa Rica and Mauritius Come Into Effect - UPPERNEWS: UAE news, Dubai news, technology news
Indonesia, Cambodia, and Georgia.

Dr. Thani Al Zeyoudi, the Minister of State for Foreign Trade, stated that the implementation of these agreements
reflects a major advancement in the UAE’s foreign trade strategy. He emphasized that these Cepas will improve
connectivity to dynamic markets in Central America and Africa, acting as a catalyst for deeper economic
collaboration. This will open up various opportunities for the private sector and support shared goals such as
enhancing food security and accelerating the adoption of clean energy.

Launched in 2021, the Cepa programme aims to lower tariffs and simplify customs procedures to eliminate trade
bottlenecks. The programme has already contributed to the UAE achieving record non-oil trade of $817 billion in
2024, which represents a 14.6 percent annual increase.

The UAE aspires to elevate its foreign trade to Dh4 trillion ($1.1 trillion) by 2031 and has an additional 12 trade
agreements signed but pending ratification. Under the Cepa with Costa Rica, finalized in April last year, 99.8 percent
of UAE exports to Costa Rica will enjoy zero or reduced customs duties. In 2024, non-oil trade between the UAE and
Costa Rica exceeded $82.6 million, reflecting a growth of 27.5 percent from 2023.

For the UAE-Mauritius Cepa, the expectation is to increase the value of non-oil bilateral trade from $209.8 million to
$500 million over the next five years. This agreement is projected to lead to a four-fold rise in UAE exports to
Mauritius, with over 97 percent of these exports benefiting from immediate tariff elimination or gradual reductions
over a maximum of five years.

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