- The UAE and Costa Rica are taking major strides to strengthen their economic partnership. Both countries are looking to build up their trade ties with the signing of a Comprehensive Economic Partnership Agreement.
- The UAE and Costa Rica have an undeniably strong bond of trade and investment. Year on year, non-oil-based transactions between the two countries have increased by 19% to a remarkable Dh216 million ($58.7 million) in 2022. To further fortify its foothold in Central America, the Emirates is investing in various industries such as IT, tourism, retail, advertising, media, real estate, renewable energy, air transport, and logistics.
Why it matters
The UAE Minister of Economy Abdulla bin Touq announced this month that the country is pushing to broaden its economic ties to partners around the world, aiming to sign 26 comprehensive economic partnership agreements. This move is part of the UAE's ongoing efforts to attract more investments and diversify its economy, as it is the second-largest economy in the Arab world.
