Dubai Chamber of Commerce announces creation of the Costa Rican Business Council

The Dubai Chamber of Commerce announces the establishment of the Costa Rican Business Council in Dubai to foster stronger bilateral trade and economic relations.

The Dubai Chamber of Commerce, one of three chambers operating under the Dubai Chamber, has announced the establishment of a new Business Council to represent the interests of the Costa Rican business community in the emirate. The formation of the ‘Costa Rican Business Council in Dubai’ is a strategic measure designed to improve commercial links and strengthen connections between the two markets.

The room received a delegation made up of His Excellency Dr. Arnoldo André Tinoco, Minister of Foreign Affairs and Worship of Costa Rica; His Excellency Francisco Chacón Hernández, Ambassador of the Republic of Costa Rica to the United Arab Emirates; and founding council members for a special meeting to discuss the formation of the council. The dialogue focused on collaborative strategies to unlock the full potential of the new business council, which will provide a series of benefits for companies in both Costa Rica and Dubai.

His Excellency Mohammad Ali Rashed Lootah, Chairman and CEO of Dubai Chambersdeclared:

“The establishment of the Costa Rican Business Council in Dubai represents another significant step to improve the trade and investment relationship between the business communities in our respective markets. This collaborative effort is part of our continued drive to ensure a conducive, conducive and world-class business environment in Dubai. “We look forward to working together to boost bilateral trade and promote cross-border opportunities for business and investment.”

The value of non-oil trade has been growing steadily and reached $58.7 million in 2022, representing an impressive annual growth rate of 19%. Bilateral trade and investment are expected to increase further following the launch of the new Business Council. Earlier this year, Costa Rica also began preliminary CEPA negotiations with the United Arab Emirates, paving the way for the construction of a significant and influential platform that will further consolidate economic relations between the two countries.

Covering markets of strategic importance to Dubai, the Business Councils serve as valuable platforms for businesses from the UAE and abroad to connect, collaborate and build mutually beneficial partnerships. Operating under the umbrella of the Dubai Chamber of Commerce, the councils drive advocacy efforts, ensure legislative improvements and build bridges of cooperation with business communities around the world.

Business councils are non-profit organizations made up of companies, business owners and industry experts who represent the interests of companies from specific countries operating in Dubai. The councils work in cooperation with the chamber to promote bilateral trade and investment between businesses in Dubai and the market represented by each council.

News source: Dubai Press Office