A New Chapter in Central American – RAK Trade Relations
In a significant development aimed at strengthening international trade and investment, the Dubai-Costa Rica Business Council (DCRBC), under the leadership of President William Reuben Soto, has officially signed a Memorandum of Understanding (MoU) with the RAK Chamber of Commerce and Industry. The signing took place during a grand event marking the Celebration of Central America Independence, an occasion generously hosted by His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah.
The MoU signifies a key milestone in enhancing bi-regional economic collaboration between the Emirate of Ras Al Khaimah (RAK) and Central American nations, focusing initially on building enhanced commercial and investment links between Costa Rican businesses and the RAK private sector.
The agreement was formally signed by H.E. Mohammed Al Nuaimi, Chairman of the RAK Chamber, and William Reuben Soto, President of the Dubai-Costa Rica Business Council. Their commitment underscores a shared vision to leverage mutual trade potential and open new avenues for entrepreneurship, investment, and cooperation in sectors ranging from renewable energy and tourism to agri-business, technology, and logistics.
“This marks a new wave of business opportunities,” said William Reuben Soto.
The event, beyond its ceremonial significance, highlighted a growing regional interest in linking Central America’s economic potential with the dynamism of the UAE’s private sector, particularly through RAK’s strategic geographic and commercial framework.
The DCRBC extended its appreciation to H.E. Francisco Chacón, Ambassador of Costa Rica to the UAE, for his instrumental role in bringing the initiative to life. Special thanks were also directed to the Ambassadors of Guatemala and El Salvador for their consistent support in fostering regional unity and promoting opportunities for bilateral and multilateral partnerships.
The newly signed MoU represents more than just a symbolic gesture—it is a clear commitment to sustained and strategic economic diplomacy. The DCRBC has pledged to maintain active engagement with the RAK business community and ensure that Central American enterprises are well-represented and equipped to explore the opportunities emerging from this partnership.
“Count on us to promote Central American businesses with RAK’s private sector,” declared William Reuben Soto.
This collaboration reaffirms the importance of cross-regional cooperation in a globalized economy and sets a promising precedent for future agreements that can deepen economic ties and foster cultural understanding across continents.
— Team V.DIR-EM-UAE
