The United Arab Emirates (UAE) and Costa Rica have inked a significant pact aimed at bolstering their bilateral trade and investment relations. UAE President Sheikh Mohammed bin Zayed Al Nahyan announced the signing of a Comprehensive Economic Partnership Agreement (CEPA), highlighting its potential to enhance economic cooperation between the Middle Eastern and Central American nations.
CEPAs, characteristic of the UAE's trade agreements, encompass a wide array of provisions covering trade, investment, and services, fostering a conducive environment for bilateral commerce.
Bilateral non-oil trade between the UAE and Costa Rica has shown promising growth, reaching $65 million in 2023, marking a 7% increase from the previous year. This agreement is poised to further stimulate trade flows and unlock new opportunities for economic collaboration between the two countries.
As a major international re-export hub, the UAE plays a pivotal role in facilitating trade routes between Asia, Africa, Europe, and beyond. The CEPA with Costa Rica underscores the UAE's commitment to expanding its global trade footprint and fostering mutually beneficial partnerships.
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