Page 624 - MOE ENGLISH PR - APRIL 2024

4/23/24, 4:34 PM UAE, Costa Rica inaugurate new trade, investment era under CEPA
Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh
Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of

the Presidential Court, and their wishes for further prosperity, progress and well-being to

the leadership and people of Costa Rica.

President Chaves and Al Zeyoudi affirmed that the agreement would significantly enhance

bilateral trade and mutual investments between the two countries by eliminating tariffs,

reducing trade barriers, promoting the exchange of goods, capital, and ideas between
their thriving economies, and encouraging cooperation in the private sector.

The Comprehensive Economic Partnership Agreement (CEPA) between the two countries
is the latest step in the UAE's foreign trade programme, launched to increase the country's

non-oil foreign trade value to more than AED4 trillion by 2031.

During the visit, Al Zeyoudi met with several ministers and senior government officials to
accelerate economic cooperation between the two countries. The parties then celebrated

the signing of the CEPA and its role in initiating a new era in their relations.

During the Emirati delegation’s visit, Al Zeyoudi met with Manuel Tovar, Minister of Foreign
Trade of Costa Rica, lauding the growing non-oil trade between the two friendly countries,

which reached US$65 million in 2023.

The two sides highlighted promising prospects for expanding trade and investment in
mutually interesting sectors, such as renewable energy, tourism, food security, information

and communication technology, and manufacturing.

Al Zeyoudi also met with Franz Tattenbach, Minister of Environment and Energy of Costa
Rica, to discuss trade and investment opportunities in both countries and leverage them,

to widen their trade and investment cooperation to broader horizons.

Al Zeyoudi also talked to Efraim Zeledon Leiva, Deputy Minister Ministry of Public Works

and Transport of Costa Rica, to discuss the significant opportunities available to investors

and entrepreneurs in the transportation, logistics services, and infrastructure sectors.

Al Zeyoudi stressed that Costa Rica is one of the most promising economies in Central

America, with many areas of cooperation with the UAE. Both countries are committed to

https://www.zawya.com/en/economy/gcc/uae-costa-rica-inaugurate-new-trade-investment-era-under-cepa-m5t6i77n 2/4