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 Complete Financial Partnership Settlement (CEPA) throughout a digital ceremony.
The settlement, which was signed by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for International Commerce, and Manuel Tovar, Minister of International Commerce of Costa Rica, heralds a brand new period of bilateral cooperation between the 2 nations. It is going to additionally improve commerce flows, enhance private-sector collaboration, and supply new alternatives for funding, notably in precedence sectors comparable to logistics, vitality, aviation, tourism, and infrastructure growth.
It’s the newest settlement to be signed beneath the UAE’s new overseas commerce agenda, which seeks to broaden the nation’s community of commerce companions around the globe, set up new markets for exports, and additional safe the UAE’s standing as a commerce facilitator and world gateway for items and companies.
His Highness Sheikh Mohamed bin Zayed Al Nahyan welcomed the settlement as a brand new chapter in UAE-Costa Rican financial relations, which noticed non-oil commerce exceed US$ 65 million in 2023, a 7 % enhance over 2022 and 31 % over 2021. His Highness additionally highlighted the significance of commerce to worldwide cooperation, notably within the pursuit of safe, resilient provide chains and options to urgent world points comparable to local weather change and meals safety.
His Highness remarked that the UAE is dedicated to the institution of strategic partnerships with nations that prioritise forward-thinking financial growth for the betterment of the worldwide inhabitants.
The UAE-Costa Rica Complete Financial Partnership Settlement, His Highness famous, exemplifies this imaginative and prescient by deepening ties and fostering collaboration with a nation that, just like the UAE, locations innovation, sustainability, and diversification on the forefront of its financial roadmap.
Upon implementation, His Highness continued, the UAE anticipates that the UAE-Costa Rica CEPA will catalyse commerce and funding into precedence sectors, propelling each nations in direction of shared financial success and prosperity for his or her respective companies and peoples.
For his half, His Excellency Rodrigo Chaves Robles stated, “I’m delighted in regards to the signing of the Complete Financial Partnership Settlement between Costa Rica and the United Arab Emirates. That is the primary settlement of its sort between Costa Rica and a rustic of the Center East, aligning with our administration’s strategic goal of increasing into new markets. I firmly consider this financial partnership will unlock a myriad of commerce and funding alternatives resulting in elevated prosperity for our folks.”
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