UAE and Costa Rica Sign Comprehensive Partnership Agreement, Establishing Strong Economic Relations
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Junto con el Presidente de Costa Rica, Rodrigo Chaves Robles, fui testigo de la firma del Acuerdo de Asociación Económica Integral entre nuestros dos países. Estamos comprometidos a construir puentes de amistad y cooperación con naciones que comparten nuestra visión de… pic.twitter.com/dVWzZ7zKEw
— محمد بن زايد (@MohamedBinZayed) April 18, 2024
This year Costa Rican President His Excellency Rodrigo Chaves Robles and UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan recently oversaw the signing of the Comprehensive Economic Partnership Agreement (CEPA). An important turning point in the two countries' bilateral relations was reached with this virtual ceremony, which promised to expand trade, encourage private sector cooperation, and open up new investment opportunities, particularly in vital industries like infrastructure development, energy, tourism, logistics, and aviation.
Undersigned by Manuel Tovar, Minister of Foreign Trade of Costa Rica, and UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi, highlights the UAE's dedication to growing its international trade network and reaffirming its role as a global hub for goods and services as well as a trade facilitator.
The amount of non-oil commerce between the United Arab Emirates and Costa Rica has been rising rapidly, with a 7% increase from the previous year and a 31% increase from 2021 to over US$65 million in 2023. This pattern shows the possibility for future cooperation and represents the two nations' expanding economic alliance.
Establishing strategic alliances with nations that place a high priority on innovation and economic development is the goal of the UAE's new foreign trade plan. In line with the economic agendas of both nations, the UAE-Costa Rica CEPA is an example of this ambition by promoting cooperation in fields like innovation, sustainability, and diversification.
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