Page 262 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

2/24/25, 9:48 AM Home | Emirates News Agency
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 Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and 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 Francisco Chacon, Ambassador of Costa Rica to the UAE; 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, 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.”
On the Costa Rican side, 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.”

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 enhance bilateral trade and investments, while also fostering mutual

opportunities for the business communities in both markets across diverse sectors.”

He 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

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