Costa Rica and the United Arab Emirates will negotiate a trade agreement
Costa Rica and the United Arab Emirates have agreed to start negotiations on a trade agreement that also opens up opportunities for investment and cooperation Costa Rican Ministry of Foreign Trade.
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This agreement aims to deepen trade and investment relations between the two countries Costa Rica And The United Arab Emirates“With the consequent economic and social benefits for the Costa Rican population linked to increased exports and foreign direct investment,” said Costa Rican Minister of Foreign Trade, Manuel Tovar.
The launch of the negotiations was announced by Minister Tovar and the Minister of State for Affairs commerce outside United Arab Emirates, Thani bin Ahmed Al-Zeyoudi, during the visit of the Costa Rican official.
This will be the first trade agreement that Costa Rica will sign with a country in the Middle East, which according to the government is responding to a strategy of pursuing new marketsand generate trade, investment and cooperation opportunities, in addition to strengthening value chains towards that region of the world.
The authorities hope it will be talks Starting in the second half of 2023.
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United Arab Emirates, which also agreed negotiate The Costa Rican government has confirmed that similar agreements with Colombia and Chile seek to diversify their economy and become a logistics hub, and has been interested in Costa Rica for its exportable offer and human talent.
“the bilateral relations Today (March 28) with the United Arab Emirates, they gained a great degree of trust for both countries, and this step taken today proves that the Middle East is an important country committed to external action, which we will strengthen in the coming months. “Come on,” said Costa Rican Foreign Minister Arnoldo Andre.
Costa Rica and the United Arab Emirates exchanged Embassies in 2017. Since then, more than 25 gadgets of various kinds have been subscribed to.
data Emiratis from the Ministry to Economy It indicates that from 2021 to 2022 total trade grew by 19.3% to $58.7 million annually. Costa Rica’s exports last year amounted to $43.8 million, an increase of 21.3% compared to 2021.
Costa Rica has the current Free trade agreements: with the United States, Central America and the Dominican Republic; European Union, European Free Trade Association, Canada, Caribbean Community, Chile, China, Colombia, Mexico, Panama, Peru, South Korea, Singapore, United Kingdom, and One agreement with Ecuador is expected to enter into force in the coming months.
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