Page 133 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

2/25/25, 2:42 PM UAE And Costa Rica Promote Trade And Investment Opportunities Under CEPA At Dubai Business Forum
Dubai, UAE – February 2025: The United Arab Emirates and the Republic of Costa Rica
have reaffirmed their commitment to expanding economic ties and strengthening trade and
investment flows under their landmark Comprehensive Economic Partnership Agreement
(CEPA) during a high-level business forum held in Dubai.

The event, organised by Dubai Chambers in collaboration with the Dubai-Costa Rica
Business Council and the Costa Rican Foreign Trade and Investment Agency
(PROCOMER), brought together senior government officials, business leaders and trade
representatives from both nations. It served as a platform to explore the benefits of the
CEPA, which was signed in 2024 as part of the UAE's broader foreign trade strategy to
deepen economic engagement with key global partners.

The forum was attended by HE Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for
Foreign Trade, and HE Manuel Tovar Rivera, Minister of Foreign Trade of Costa Rica,
alongside key stakeholders from the public and private sectors of both countries. Other
notable speakers included HE Francisco Chacon, Ambassador of Costa Rica to the UAE;
Mr. Essa Abdulla Al Ghurair, Chairman of Essa Al Ghurair Investment; William Reuben-Soto,
President of the Dubai-Costa Rica Business Council; Mrs. Laura Lopez Salazar, CEO of
PROCOMER; and Mr. Julian Aguilar, Coordinator for Middle Eastern Affairs at the Ministry of
Foreign Trade of Costa Rica.

Speaking at the forum, HE Al Zeyoudi highlighted the strong potential of the UAE-Costa Rica
CEPA in boosting bilateral trade and investment flows, stating:“This CEPA is a catalyst for
deeper economic collaboration, opening new avenues in trade, investment, and innovation
for both our nations. Costa Rica is one of the most dynamic and forward-thinking economies
in Central America, recognised for its expertise in technology, advanced manufacturing, and
commitment to sustainable growth. Meanwhile, the UAE stands as a global trade and
investment hub, offering Costa Rican businesses unparalleled access to markets across the
Middle East, Asia, and Africa. By removing trade barriers, facilitating investment flows, and
fostering cooperation in key sectors, this agreement lays the foundation for a new era of
mutually beneficial economic prosperity.”
For Costa Rica, HE Manuel Tovar Rivera, said:“The CEPA with the United Arab Emirates
reflects Costa Rica's strong commitment to market diversification and expanding our export
opportunities. As the first Latin American country to conclude a trade agreement with the
UAE, Costa Rica gains preferential access to a sophisticated and dynamic market while
fostering investment and collaboration in key sectors for national development. This
milestone strengthens our global trade position and opens new opportunities for strategic
industries.”
His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers,
commented:“The UAE enjoys strong economic ties with the Republic of Costa Rica. The
Comprehensive Economic Partnership Agreement between our countries will further

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