UAE and Costa Rica sign trade deal, UAE president says

President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan meets with Russian President Vladimir Putin in Abu Dhabi

FILE PHOTO: President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan looks on during a meeting with Russian President Vladimir Putin at Qasr Al Watan in Abu Dhabi, United Arab Emirates December 6, 2023. Sputnik/Sergei Savostyanov/Pool via REUTERS/File Photo

Source: X02440

The United Arab Emirates 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 on Thursday.

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.

RECOMMENDED FOR YOU

Explosions at Taiwan waste site injure 15, damage dozens of homes

Bilateral non-oil trade between the two countries was worth $65 million in 2023, up 7% on the previous year, according to a report carried by UAE's state news agency on the CEPA signing.

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

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters