The government of Costa Rica and the Dubai Chamber of Commerce and Industry signed a memorandum of understanding to open a Costa Rican Promotion Office in Dubai, the largest and most populous city in the United Arab Emirates (UAE).

The agreement was signed by Majid Safir Al Ghurair chairman of Dubai Chamber and Manuel Gonzalez Sanz, Costa Rica’s Minister of Foreign Affairs during the Global Business Forum on Latin America 2018 that took place in Dubai.

Through this office the Costa Rican government will promote exchange and business opportunities, investments and cooperation between the business communities of both countries.

The document signed has a validity of five years, currently the UAE is the third most important destination of commerce between Costa Rica and the Middle East, only behind Iraq and Israel.

“The opening of Costa Rica’s representative office in Dubai is a positive development that will improve our economic relations with the country and the Latin America region. It will enable companies in Costa Rica and other Latin American nations to benefit from the competitive advantages offered by Dubai, and boost their trade with other parts of the world,” said Al Ghurair.

The agreement states that Dubai constitutes a very important global business center, commerce, investments, finances, high technology, innovation and development, and a strategic bridge to the Middle Easter, European, African and Asian markets.

Costa Rica, on the other hand, is also one of the most attractive business markets in the world with an economic, political and commercial stability and a strategic bridge to the Central American and Caribbean markets.