Sharjah Chamber Seeks To Strengthen Economic And Trade Relations With Costa Rica And Guinea

The Sharjah Chamber of Commerce and Industry (SCCI) recently engaged in discussions with a high-level diplomatic delegation from Costa Rica, aimed at boosting economic and trade cooperation between the two nations at the private sector level. The talks focused on advancing bilateral relations, particularly in industries and Blue Economy projects.

During the meeting at SCCI’s headquarters, Abdallah Sultan Al Owais, SCCI Chairman, met with Francisco J. Chacón Hernández, Ambassador of Costa Rica to the UAE. They explored strategies for fostering mutual participation in major trade fairs and enhancing business-to-business communication to increase investments between the two countries.

The Ambassador invited Al Owais to the Buyers Trade Mission Fair in Costa Rica. The meeting highlighted the importance of leveraging facilities offered by both nations to strengthen investment partnerships and expand trade relations. Collaborative efforts to stimulate business growth and arrange meetings for entrepreneurs were also discussed.

Al Owais praised the Costa Rican Embassy’s commitment to enhancing ties with the UAE's business community. He provided insights into the Al Qasimia City project and invited the Costa Rican delegation for a field visit to Sharjah’s industrial zones. He encouraged Costa Rican companies to join global businesses operating in the emirate.

Al Owais highlighted the CEPA signed between the UAE and Costa Rica, noting its role in providing substantial collaboration opportunities. The agreement has elevated bilateral non-oil foreign trade value to $65 million in 2023, opening new investment doors in sectors such as renewable energy, tourism, food security, ICT, and manufacturing.

The CEPA also provided significant market access for the UAE in Costa Rica, rated at 98 percent, thereby boosting opportunities for Emirati service providers across numerous sectors.

Engagement with Guinea

In a related context, Al Owais met with Sekou Camara, Ambassador of Guinea to the UAE, to discuss avenues for strengthening economic cooperation and trade exchange. Their meeting focused on bolstering the exchange of delegations and trade missions and maintaining continuous communication between business communities of both nations.

Both sides discussed potential engagement in key business events and trade exhibitions hosted by both countries. They underscored their role in facilitating communication between representatives of private sector companies to uncover further cooperation prospects.

Optimal Investment Environment

Al Owais affirmed SCCI's commitment to enhance collaboration with the Guinean Embassy, supporting Guinean entrepreneurs seeking entry into the UAE market. He noted that Sharjah's investment climate offers opportunities designed to foster economic partnerships across various sectors.

The Guinean Ambassador commended the warm welcome received at SCCI and pointed to robust ties between Guinea and the UAE. He expressed aspirations for further cooperation, emphasising mutual commitment to expanding collaborative efforts and attracting more Emirati investments.

With inputs from WAM