Costa Rica has announced plans to open a trade representative office in Dubai which will aim to enhance economic cooperation and boost trade and investment flows between the Latin American country and the emirate.
H.E. Manuel González Sanz, Costa Rica’s Minister of Foreign Affairs and Worship, made the announcement during a meeting in San Jose which was attended by a delegation led by the Dubai Chamber of Commerce and Industry.
The new trade office will be hosted by Dubai Chamber and serve as a platform for promoting bilateral ties and identify opportunities in the Dubai market that Costa Rican companies can benefit from.
He also revealed that a high-level delegation from Costa Rica will be visiting the UAE next month in cooperation with the Export Promotion Agency of Costa Rica (PROCOMER).
During the meeting, H.E. Hamad Buamim, President and CEO, Dubai Chamber, welcomed the announcement from the Costa Rican foreign minister and noted that the opening of the trade office will help improve bilateral relations, and explore potential for boosting Costa Rican exports to Dubai.
H.E. Buamim revealed that Dubai's non-oil trade with Costa Rica reached $23 million in 2016, adding that this volume will likely grow following the opening of the new trade office.
H.E. Luis Guillermo Solís Rivera, President of the Republic of Costa Rica, welcomed the visiting delegation from Dubai during a separate meeting at the Presidential Palace. He lauded Dubai’s expertise in executing mega projects and said that Costa Rica’s business community could benefit from the emirate’s expertise in this area.
The Costa Rican President identified hospitality, tourism, infrastructure logistics, and food industry, as key areas where Costa Rican and Dubai-based businesses can enhance their cooperation.
For his part, H.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber, stressed the importance of the visit in building bridges between the Costa Rican and UAE business communities. He described Costa Rica as an ideal trade partner, given its thriving food industry and status a leading agricultural exporter.
Dubai Chamber’s Chairman encouraged Costa Rican companies to participate in Expo 2020, adding that they stand to greatly benefit from the global platform and exposure that the mega event can provide them. He also invited Costa Rican companies to participate in the 2nd Global Business Forum on Latin America, which will be organised by the Chamber and held in the emirate during the first quarter of 2018.
The Dubai Chamber delegation also participated in a roundtable discussion that was attended by senior officials and representatives from Costa Rica Chambers of Commerce, Chamber of Exporters of Costa Rica (CADEXCO), the Costa Rica Tourism Board, the Costa Rican Chamber of Information and Communication Technologies, and the Costa Rican Chamber of Importers, Distributors and Representatives.
The visit to Costa Rica is part of Dubai Chamber’s second trade mission to Latin America this year, which also covers Panama and Colombia. The trade mission falls in line with the Chamber’s strategy of exploring new markets and identifying opportunities that offer the most potential for its members.
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