Expanding Horizons: UAE and Costa Rica Finalize New Trade Implementation Roadmap

Following the landmark signing of the Comprehensive Economic Partnership Agreement (CEPA), the UAE and Costa Rica have now finalized a detailed implementation roadmap to trigger a new wave of bilateral investment. This agreement is a strategic cornerstone of the UAE’s policy to diversify its trade partners and tap into high-growth markets in the Americas. The roadmap focuses on several key sectors, including renewable energy, food security, and technology services. For UAE investors, Costa Rica offers a stable, green economy with significant opportunities in sustainable tourism and agriculture. Conversely, Costa Rican businesses now have a direct, streamlined gateway into the Middle East and North Africa through Dubai’s world-class logistics infrastructure. The agreement is set to eliminate or significantly reduce tariffs on over 98% of goods, fostering a surge in non-oil trade. This partnership is particularly important for food security, as it opens up new supply chains for high-quality organic produce and coffee, areas where Costa Rica excels. In return, the UAE is providing expertise in infrastructure and digital trade, helping to modernize trade routes between the two nations. This deal is a testament to the UAE’s ‘Global UAE’ strategy, which seeks to build a network of economic alliances that transcend geographical boundaries. By securing these partnerships, the UAE is building a more resilient economy that is less dependent on traditional markets and more integrated into the global south. The focus remains on mutual prosperity, with both nations committed to a long-term vision of sustainable development and shared economic success.