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4/23/24, 4:37 PM UAE, Costa Rica inaugurate new trade, investment era under CEPA

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 T ovar, Minister of
Foreign Trade of Costa Rica, lauding the growing non-oil trade between the two
friendly countries, which reached USD 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.

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