Page 646 - MOE ENGLISH PR - APRIL 2024

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

Abu Dhabi [UAE], April 18 (ANI/WAM): Rodrigo Chaves Robles, President of Costa Rica, received Thani bin
Ahmed Al Zeyoudi, Minister of State for Foreign Trade, in the Costa Rican capital, San Jose, during a visit by a
high-level delegation from the UAE.

During the meeting, Al Zeyoudi conveyed the regards of President Sheikh Mohamed bin Zayed Al Nahyan, and
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and 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 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.

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 developing flexible and sustainable
economies focused on innovation, investment, and trade.

He affirmed that the CEPA with Costa Rica would give the UAE significant market access, with 98 percent of
tariff lines duty-free or with reduced tariffs, including aluminium, polyethylene, heavy machinery, ceramics,
glass, copper, and related products, iron and steel and related products, and cement.

https://thenewsmill.com/2024/04/uae-costa-rica-inaugurate-new-trade-investment-era-under-cepa/ 2/3