The UAE and Costa Rica have taken a significant step towards strengthening their economic ties with the signing of the UAE-Costa Rica Comprehensive Economic Partnership Agreement (CEPA). The virtual ceremony, attended by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and President Rodrigo Chaves Robles, marked a new era of cooperation between the two nations.
The agreement, signed by UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi and Costa Rican Minister of Foreign Trade Manuel Tovar, aims to boost trade flows, enhance private-sector collaboration, and create new investment opportunities in key sectors such as logistics, energy, aviation, tourism, and infrastructure development.
President Sheikh Mohamed bin Zayed Al Nahyan hailed the agreement as a milestone in UAE-Costa Rican economic relations, emphasizing the importance of trade in fostering international cooperation and addressing global challenges like climate change and food security. He reaffirmed the UAE’s commitment to forging strategic partnerships with countries that prioritize innovative and sustainable economic development.
President Rodrigo Chaves Robles expressed his excitement about the agreement, highlighting its potential to unlock trade and investment opportunities that will benefit both nations. This historic agreement is the first of its kind between Costa Rica and a Middle Eastern country, aligning with Costa Rica’s strategic goal of expanding into new markets and driving economic growth.
The UAE-Costa Rica CEPA is expected to catalyze economic growth and prosperity for businesses and citizens of both countries, setting the stage for a fruitful partnership that prioritizes innovation, sustainability, and mutual benefit. This agreement underscores the UAE’s efforts to expand its global trade network and solidify its position as a key player in the international trade landscape.