The Comprehensive Economic Partnership Agreements (Cepas) between the UAE and Costa Rica and Mauritius officially took effect on Wednesday, marking a significant step in the Emirates’ efforts to enhance its global trade and investment activities.

According to the UAE’s Ministry of Economy, these new agreements are the seventh and eighth to be implemented under the Cepa programme. This initiative follows previous trade deals with countries including India, Israel, Turkey, Indonesia, Cambodia, and Georgia.

Dr. Thani Al Zeyoudi, the Minister of State for Foreign Trade, stated that the implementation of these agreements reflects a major advancement in the UAE’s foreign trade strategy. He emphasized that these Cepas will improve connectivity to dynamic markets in Central America and Africa, acting as a catalyst for deeper economic collaboration. This will open up various opportunities for the private sector and support shared goals such as enhancing food security and accelerating the adoption of clean energy.

Launched in 2021, the Cepa programme aims to lower tariffs and simplify customs procedures to eliminate trade bottlenecks. The programme has already contributed to the UAE achieving record non-oil trade of $817 billion in 2024, which represents a 14.6 percent annual increase.

The UAE aspires to elevate its foreign trade to Dh4 trillion ($1.1 trillion) by 2031 and has an additional 12 trade agreements signed but pending ratification. Under the Cepa with Costa Rica, finalized in April last year, 99.8 percent of UAE exports to Costa Rica will enjoy zero or reduced customs duties. In 2024, non-oil trade between the UAE and Costa Rica exceeded $82.6 million, reflecting a growth of 27.5 percent from 2023.

For the UAE-Mauritius Cepa, the expectation is to increase the value of non-oil bilateral trade from $209.8 million to $500 million over the next five years. This agreement is projected to lead to a four-fold rise in UAE exports to Mauritius, with over 97 percent of these exports benefiting from immediate tariff elimination or gradual reductions over a maximum of five years.