Dubai and Costa Rica to boost investment and trade cooperation

Dubai House officials and Costa Rican delegation at the meeting.

Abdulaziz Al Ghurair, president of the Dubai Chambers, received a high-level Costa Rican delegation at the headquarters of the Dubai Chamber, headed by Costa Rican President Carlos Alvarado Quesada, on Sunday.

Quesada was accompanied by the First Lady, Claudia Dobles Camargo, Rodolfo Solano Quiros, Minister of Foreign Affairs and Worship; Pilar Garrido Gonzalo, Minister of National Planning and Economic Policy, Government Economic Coordinator; Victoria Hernandez Mora, Minister of Economy, Industry and Trade; Agustin Castro Solano, Minister of Communication; Jumaa Al Rumaithi, Ambassador of the United Arab Emirates to the Republic of Costa Rica; and Ambassador Francisco J. Chacón Hernández, Ambassador of the Republic of Costa Rica to the United Arab Emirates.

Addressing delegates at a meeting, Al Ghurair spoke about the state of Dubai-Costa Rica trade relations and the potential between markets that has yet to be fully explored.

“Despite global setbacks, bilateral trade between Dubai and Costa Rica grew 12% from 2019 to 2020, reaching $ 112 million. Bilateral trade amounted to $ 64 million in the first half of 2021 and Dubai is a net importer of goods from Costa Rica, which tells us that there are multiple opportunities for Dubai’s export growth, especially as a source of re-exports from Africa and South Asia, ”Al Ghurair said.

He noted that the Dubai Chamber is working closely with the Costa Rican Trade Promotion Office to promote bilateral relations and identify opportunities that Costa Rican businesses can benefit from, adding that the opening of this office in 2019 reflects the Costa Rica’s firm commitment to strengthen its ties with the United Arab Emirates.

President Quesada, in turn, praised the development of relations between the United Arab Emirates and Costa Rica, expressing his deep gratitude to the leaders and government of Dubai for their constant concern to strengthen the mutual relations between them and to encourage investments in vital sectors. He also applauded the way Dubai handled the challenges of Covid-19 and emerged from the pandemic resilient and stronger.

Alvarado Quesada expressed his gratitude to the Dubai Chamber and Al Ghurair for the invitation, which he said represents an invaluable opportunity for Costa Rica to attend Expo 2020 Dubai and strengthen bilateral trade , adding that Costa Rica can offer strengths and opportunities in the areas of clean energy, conservation, innovation and the green economy.

Al Ghurair also invited delegates to attend the House’s flagship event, the GBF Latin America, to be held from March 23-24, 2022. The forum will provide an ideal platform for UAE businesses and their Latin American counterparts to network, identify trade and investment opportunities and foster cross-border partnerships.

Established in 1965, the Dubai Chamber of Commerce and Industry is a public not-for-profit entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favorable business environment, by supporting business development, and promoting Dubai as a hub for international business.

The Dubai Chamber of Commerce and Industry provides an integrated system of intelligent and electronic services that cover all the requirements of the business community, enabling companies to perform all their transactions remotely easily, easily and according to the most international standards. higher. The Chamber is a leading smart service provider, with a 98% smart transformation of its core services, accessible through the Chamber’s smart app or by visiting the website.

At the same time, an analysis released by the Dubai Chamber of Commerce and Industry (DCCI) highlights the vital role that Association of Southeast Asian Nations (ASEAN) countries can play in improving the food security in the United Arab Emirates.

The publication of the analysis precedes the very first Global Business Forum (GBF) ASEAN, organized by the Dubai Chamber in partnership with Expo 2020 Dubai on December 8 and 9, 2021 at Expo 2020 Dubai.

The forum, to be held under the theme “New Frontiers”, aims to explore the changing dynamics of ASEAN countries and examine opportunities to increase bilateral trade, business and investment between regions.

Entitled “Dubai Food and Beverage Trade with ASEAN”, the report analyzes areas where the 10 ASEAN member states can contribute to the UAE’s food and beverage (F&B) sector – which, according to the room, is very important because the United Arab Emirates imports about 85% of the room. percent of the total food he consumes.

“A key pillar of the UAE’s National Food Security Strategy 2051 is to diversify the country’s international food sources – an imperative that was reiterated during the coronavirus pandemic that had a major impact on supply chains global. As a country with a growing population that cannot grow its food on a large scale, identifying markets that can supply us with produce is a national priority. One of these important markets is ASEAN countries, ”said Hamad Buamim, President and CEO of the Dubai Chamber.

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