President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Excellency Rodrigo Chaves Robles, President of Costa Rica, have witnessed the signing of the UAE-Costa Rica Comprehensive Economic Partnership Agreement (CEPA) during a virtual ceremony.
The agreement, which was signed by UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, and Minister of Foreign Trade of Costa Rica, Manuel Tovar, heralds a new era of bilateral cooperation between the two countries.
It will also enhance trade flows, increase private-sector collaboration, and provide new opportunities for investment, particularly in priority sectors such as logistics, energy, aviation, tourism, and infrastructure development.
It is the latest agreement to be signed under the UAE’s new foreign trade agenda, which seeks to expand the nation’s network of trade partners around the world, establish new markets for exports, and further secure the UAE’s status as a trade facilitator and global gateway for goods and services. His Highness Sheikh Mohamed bin Zayed Al Nahyan welcomed the agreement as a new chapter in UAE-Costa Rican economic relations, which saw non-oil trade exceed $ 65 million in 2023, a 7 percent increase over 2022 and 31 percent over 2021.
His Highness also highlighted the importance of trade to international cooperation, particularly in the pursuit of secure, resilient supply chains and solutions to pressing global issues such as climate change and food security. His Highness remarked that the UAE is committed to the establishment of strategic partnerships with nations that prioritise forward-thinking economic development for the betterment of the global population.