The port is being developed by Americas Gateway Development Corporation Limited (Amega), an international consortium with a capacity of 2 million twenty-foot equivalent units (TEUs) per year.

Costa Rica is hoping to emulate the success of Dubai as a global logistics hub through its development of the new Port of Moin for US $1-billion, with a focus on enhancing its fruit exports.

The project being developed on the Atlantic coast of Costa Rica is expected to be completed by early 2019, and will significantly increase the accessibility of direct shipping links between the country and the UAE.

“Costa Rica is the largest exporter of pineapples in the world and ranks second in the export of bananas. We export more than 4,500 products to more than 50 countries in the world,” says Jhon Fonseca, vice minister of Foreign Trade of Costa Rica.

“There is a potential for trade to grow but the main barrier is the cost of logistics. If we are able to interconnect with a direct line, there will be a huge jump in bilateral trade. Currently products are transhipped from Rotterdam to Dubai.”

Fonseca adds that there are opportunities for Emirati companies to invest in the project, especially in the logistics space.

“We are developing whole infrastructure in logistics for the country to become a logistics hub in [the] Central America and Caribbean region. The UAE has a great experience in the development of this sector,” said Fonseca, who is on a three-day visit to the UAE.

The port is being developed by Americas Gateway Development Corporation Limited (Amega), an international consortium with a capacity of 2 million twenty-foot equivalent units (TEUs) per year.

During his visit, Fonseca hopes to secure a bilateral trade agreement between the UAE and Costa Rica. Trade between the two countries currently is just US $23-million.

“[A] bilateral investment treaty will spur investment between the two countries. Many companies are keen to invest in Costa Rica and are waiting for the treaty to be finalised. The treaty will give legal certainty in [the] protection of investments,” he says.

Investors are showing interest to invest in infrastructure, logistics, tourism, agriculture and energy, he added.

Source Link | Arabian Supply Chain