Page 273 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

2/24/25, 9:49 AM UAE, Costa Rica Promote Trade, Investment Opportunities - UrduPoint
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 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

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