The United Arab Emirates is stepping up its economic engagement with Latin America by bringing a series of Comprehensive Economic Partnership Agreements (CEPAs) into force and advancing negotiations with key regional partners, reflecting a broader strategy to diversify its global trade network and boost investment flows.
In 2025, the UAE strengthened trade relations with Latin American markets through the implementation of CEPAs with Costa Rica and Chile, part of a growing portfolio of economic deals aimed at expanding market access for goods, services and investment. The Costa Rica agreement, effective since April 1, 2025, seeks to reduce or eliminate customs duties and open opportunities for small and medium‑sized enterprises across both economies.
The landmark UAE‑Chile CEPA, signed in July 2024 and entering into force on November 24, 2025, is a major milestone in bilateral relations. Designed to eliminate or reduce tariffs on nearly all goods imported between the two countries and streamline customs procedures, the agreement is expected to significantly deepen non‑oil trade. According to officials, the deal could triple bilateral trade to more than US$500 million by 2030 and expand cooperation in renewable energy, agriculture, tourism, logistics, infrastructure and digital services.
“The implementation of the UAE‑Chile CEPA marks a significant milestone in our economic relations, paving the way for enhanced collaboration and investment opportunities in vital sectors,” UAE Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi said, highlighting the pact’s role in fostering open, rules‑based trade.
The UAE is also pursuing broader collaboration across Latin America. Negotiations and preparatory work continue with other regional economies including Peru and Colombia, where trade and investment discussions aim to replicate the success of other CEPAs and unlock further opportunities for growth and connectivity.
These agreements form part of the UAE’s wider international trade strategy, which has seen the country conclude numerous CEPAs with markets worldwide to strengthen its position as a global trade hub and support ambitions to increase non‑oil foreign trade significantly by 2031.
Analysts say the expansion of trade links with Latin America aligns with the UAE’s vision of diversifying economic partnerships beyond traditional regions, allowing Emirati companies and sovereign investment funds to access new markets and build resilient global value chains.