SCCI explores economic, trade ties with Costa Rica and Guinea

The Sharjah Chamber of Commerce and Industry (SCCI) has engaged in discussions with a high-level diplomatic delegation from the Republic of Costa Rica, exploring avenues to boost economic and trade cooperation between the two nations at the private sector level.

Both sides discussed ways to advance bilateral relations with a particular focus on industries and Blue Economy projects. They also explored strategies for fostering mutual participation in major trade fairs and enhancing business-to-business communication to increase investments between the two countries.

The discussions took place during a meeting, held at the SCCI’s headquarters, between Abdallah Sultan Al Owais, SCCI Chairman, and Francisco J. Chacón Hernández, Ambassador of Costa Rica to the UAE.

The meeting was attended by Mohammed Ahmed Amin Al-Awadi, Director-General of SCCI; Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI, and Mai Bin Haddah Al Suwaidi, Head of Partnerships and International Cooperation at the Sharjah Chamber.

During the meeting, the Ambassador personally invited the Sharjah Chamber’s Chairman for the Buyers Trade Mission Fair, which will take place in Costa Rica.

The meeting delved into the significance of leveraging the facilities offered by both nations to strengthen investment partnerships and expand trade relations. Both sides also focused on collaborative efforts to stimulate business growth and arrange meetings for entrepreneurs and business leaders keen on exploring bilateral investment opportunities.

Successful partnership: Abdallah Sultan Al Owais commended the Costa Rican Embassy’s commitment to enhancing ties with the UAE’s business community.

He gave the Costa Rican delegation a deep insight into Al Qasimia City project, inviting them for a field visit to learn about the developments taking place in Sharjah’s industrial zones. Al Owais encouraged Costa Rican companies to join the global businesses operating in the emirate and benefit from its thriving industrial sector.

Furthermore, he lauded the Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and Costa Rica, highlighting its role in providing substantial collaboration opportunities and bolstering bilateral trade and investment relations between the two nations.

The CEPA with Costa Rica has notably elevated the bilateral non-oil foreign trade value to $65 million in 2023, opening new doors of investment for the two business communities in various sectors including renewable energy, tourism, food security, information and communication technology, and manufacturing. The agreement also gave the UAE significant market access in Costa Rica, rated at 98 per cent, thereby boosting opportunities for Emirati service providers across numerous sectors.

Fostering cooperation with Guinea In a related context, Abdallah Sultan Al Owais has met with Sekou Cherifke Camara, Ambassador of the Republic of Guinea to the UAE, to discuss avenues for strengthening economic cooperation and trade exchange.

Their meeting focused mainly on bolstering the exchange of delegations and trade missions and maintaining continuous communication between the business communities of both the UAE and Guinea to explore mutual investment opportunities.

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

Optimal investment environment Al Owais affirmed the Sharjah Chamber’s commitment to enhance collaboration with the Guinean Embassy, supporting Guinean entrepreneurs seeking to enter the UAE market. He noted that Sharjah’s investment climate is replete with opportunities designed to foster economic partnerships and cooperation between the two business communities across various sectors.

For his part, the Guinean Ambassador commended the ward welcome he received at the Sharjah Chamber, pointing to the robust ties between Guinea and the UAE.

Expressing his aspiration for further fruitful cooperation, the Ambassador emphasised the mutual commitment to expanding collaborative efforts, attracting more Emirati investments, and harnessing the expertise of the UAE’s private sector to drive the growth of the Guinea’s business community.

A week earlier, the Sharjah Chamber of Commerce and Industry (SCCI) has hosted the ‘Sharjah-India Business Forum’, encouraging Indian companies and economic entities to leverage the prime investment opportunities and the dynamic business environment in the emirate.

The Chamber urged Indian businesses to consider joining the roster of global and regional firms that have chosen the emirate of Sharjah as their base for commercial and industrial activities.