UAE and Costa Rica sign trade deal, UAE president says

UAE President Sheikh Mohammed Bin Zayed Al Nahyan (L), and Rodrigo Chaves Robles, President of Costa Rica (R), have witnessed the signing of the UAE-Costa Rica Comprehensive Economic Partnership Agreement (CEPA) during a virtual ceremony on 17 April 2024 [WAM]

The United Arab Emirates (UAE) and Costa Rica have signed an agreement that will help improve bilateral trade and investment ties, UAE President Sheikh Mohammed Bin Zayed Al Nahyan said today according to Reuters.

The Middle Eastern and Central American countries had signed a Comprehensive Economic Partnership Agreement (CEPA), the president said in a post on social media platform X.

CEPAs signed by the UAE are broad free trade agreements that typically also include clauses covering investment and services.

Bilateral non-oil trade between the two countries was worth $65 million in 2023, up seven per cent on the previous year, according to a report carried by UAE’s state news agency on the CEPA signing.

The UAE is a major international re-export hub that handles goods being sent to and from Asia, Africa, Europe and elsewhere.

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