The UAE and Costa Rica have started Comprehensive Economic Partnership Agreement negotiations to strengthen their trade ties.

The move comes as the Arab world’s second-largest economy forges ahead to develop closer trade and investment relations with partners around the world.

The UAE has already signed four Cepa deals with India, Israel, Indonesia and Turkey, and is close to finalising new agreements with Cambodia and Kenya. It also recently concluded negotiations for a new trade deal with Georgia.

“Today, through the launch of preliminary Cepa negotiations, we have laid the foundations for building a significant and influential platform to future-proof UAE-Costa Rica economic and trade relations,” Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, said on Tuesday.

“This agreement will contribute to establishing a new era of investment and trade in various fields, thereby supporting the sustainable economic development of both our nations and benefiting regional and global economies.”

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