Page 134 - 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
enhance bilateral trade and investments, while also fostering mutual opportunities for the
business communities in both markets across diverse sectors.”
His Excellency added:“At Dubai Chambers, we are dedicated to supporting international
partnerships to achieve economic and developmental goals and contribute to the expansion
of global trade and investments. We remain committed to enhancing the ability of companies
and investors from Costa Rica to achieve business growth in Dubai and leverage the emirate
as a gateway for expansion into global markets.”

The UAE-Costa Rica CEPA eliminates or reduces tariffs on a wide range of goods, simplifies
customs procedures, and enhances market access for services and investment. It is
designed to support growth in priority sectors, including renewable energy, logistics and
infrastructure, advanced manufacturing and technology, food security and agribusiness, and
tourism and hospitality.

Costa Rica is a regional leader in high-value products such as medical devices, agricultural
goods, advanced manufacturing components, in addition to renewable energy and eco-
tourism. Under CEPA, these industries will gain improved market access to the UAE and its
global trade corridors. Similarly, the UAE's world-class logistics network and free trade zones
provide Costa Rican businesses with a strategic gateway to expand into global markets.

Non-oil trade between the UAE and Costa Rica has seen steady growth, reaching US$82.6
million in 2024, a 27.5% increase compared to 2023 and more than double pre-pandemic
levels. The CEPA is expected to accelerate this momentum by facilitating the movement of
goods and services, fostering private-sector collaboration, and unlocking new investment
opportunities.

The UAE continues to enhance its economic presence in Central America, positioning itself
as a key trade and investment partner for the region. The country has already made
strategic investments in sectors such as logistics, IT, renewable energy, and real estate in
Costa Rica and sees further opportunities to deepen relations and broaden bilateral
cooperation.

The forum concluded with business sessions and networking opportunities, enabling UAE
and Costa Rican companies to explore partnerships and identify new areas for collaboration.
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