Abu Dhabi: The Comprehensive Economic Partnership Agreements (CEPA) between the United Arab Emirates and both Costa Rica and Mauritius have come into force.
According to the Emirates News Agency (WAM), the agreements will contribute to the elimination or reduction of customs duties on a wide range of goods. The agreements will also simplify customs procedures and establish new pathways for investment in priority sectors within the United Arab Emirates and across markets in Central America and Africa.
Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said that the agreements serve as a catalyst for deepening economic cooperation and enhancing connectivity with centres of growth in Central America and Africa. He added that this will open new opportunities for the private sector and support shared objectives, including strengthening food security and accelerating the adoption of clean energy.
He noted that the programme contributed to record non-oil trade in 2024, which reached US$817 billion, marking a 14.6% increase compared to 2023. The United Arab Emirates has so far concluded 27 Comprehensive Economic Partnership Agreements, enabling UAE companies to access over a quarter of the world’s population.
The UAE-Costa Rica CEPA, signed in April 2024, builds on non-oil trade that exceeded US$82.6 million in 2024, reflecting a growth of 27.5% compared to 2023. Under the agreement, 99.8% of UAE exports to Costa Rica will benefit from exemption or gradual reduction of customs duties. The partnership will also support the enhancement of strategic capital flows, in addition to existing UAE investments in Central America estimated at approximately US$673 million.
The UAE-Mauritius CEPA will open access to one of Africa’s most promising economies, with projections indicating that non-oil trade between the two countries will increase from the current US$209.8 million to US$500 million within five years, including a fourfold increase in UAE exports to Mauritius. Over 97% of UAE exports to Mauritius will benefit from immediate tariff elimination or gradual reduction within a maximum of five years under the agreement.
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