Economic milestone – UAE and Costa Rica sign key accord

In a significant development aimed at bolstering economic ties between nations, President Sheikh Mohamed bin Zayed Al Nahyan of the United Arab Emirates (UAE), and Rodrigo Chaves Robles, President of Costa Rica, recently presided over the virtual signing ceremony of the UAE-Costa Rica Comprehensive Economic Partnership Agreement (CEPA). The accord, inked by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Manuel Tovar, Minister of Foreign Trade of Costa Rica, marks the dawn of a new era of collaboration between the two countries.

Economic milestone - UAE and Costa Rica sign key accord

This strategic pact is poised to amplify trade flows, foster deeper private-sector engagement, and unlock fresh avenues for investment, with a keen focus on pivotal sectors such as logistics, energy, aviation, tourism, and infrastructure. This latest bilateral agreement falls under the ambit of the UAE’s ambitious foreign trade agenda, aimed at expanding its global trade footprint, cultivating fresh export markets, and reinforcing its stature as a linchpin for global commerce.

Welcoming the pact as a milestone in UAE-Costa Rican economic relations, Sheikh Mohamed underscored the pivotal role of trade in fostering international cooperation. He highlighted its significance in fortifying resilient supply chains and addressing pressing global challenges, including climate change and food security. Expressing the UAE’s commitment to forging strategic alliances with nations prioritizing forward-looking economic strategies, His Highness emphasized the symbiotic nature of the UAE-Costa Rica Comprehensive Economic Partnership Agreement. This accord, he noted, exemplifies a shared commitment to innovation, sustainability, and economic diversification.

Envisioning the CEPA as a catalyst for transformative economic growth, Sheikh Mohamed anticipates a surge in trade and investment across priority sectors, propelling both nations toward mutual prosperity. Echoing these sentiments, Rodrigo Chaves Robles hailed the agreement as a watershed moment in Costa Rica’s economic landscape. He lauded it as a testament to their administration’s strategic thrust towards diversifying into new markets.

Robles expressed confidence in the pact’s potential to unlock a plethora of trade and investment prospects, fostering greater prosperity for their citizens. The UAE-Costa Rica Comprehensive Economic Partnership Agreement stands as a testament to the growing global interconnectivity and the pivotal role of strategic alliances in driving sustainable economic growth and prosperity.