Costa Rica and the United Arab Emirates signed an Economic Partnership Agreement on Trade and Investment. The Minister of Foreign Trade of Costa Rica, Manuel Tovar Rivera, and the Minister of Foreign Trade of the United Arab Emirates, Dr. Thani bin Ahmed Al Zeyoudi, represented their respective nations.
The UAE Minister of Foreign Trade arrived in the country on Monday afternoon with a delegation of 28 representatives from both the public and private sectors, including tourism, finance, and infrastructure.
The Agreement aims to stimulate foreign direct investment, boost bilateral trade, and establish Costa Rica as the United Arab Emirates’ gateway to the Latin American region.
During their visit, the UAE delegation held meetings with Costa Rica’s Minister of Foreign Trade, representatives from the Foreign Trade Promotion Agency (PROCOMER) and engaged in a business roundtable with Costa Rican counterparts to explore commercial opportunities.
“Costa Rica has embraced trade openness, charting a clear path towards greater diversification and integration into the global economy,” said Minister Tovar.
He also highlighted that once the treaty comes into force, it could strengthen Costa Rica’s global value chain participation and position it as a preferred partner for agricultural and food products in a high-purchasing-power economy. Dr. Thani bin Ahmed Al Zeyoudi expressed enthusiasm for the potential opportunities opening up for both countries.
“Our agreement with Costa Rica is set to usher in a productive new era of economic collaboration between our nations. Costa Rica is one of the region’s most impressive growth stories, with a diversified, service-driven economy that has gained recognition for its commitment to sustainability and innovation,” he said.
According to the UAE representative, Costa Rica is one of the most investment-friendly economies in Latin America. He also mentioned that this deal will promote greater investment, collaboration, and knowledge sharing in high-priority sectors such as tourism, renewable energy, food security, information technology, and manufacturing.
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Tico Times
