Staff Writer

Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, affirmed that negotiations on a Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and Canada will begin in the coming period.

He said the agreement is expected to double bilateral trade to more than US$10 billion in the coming years.

Speaking to the Emirates News Agency (WAM) on the sidelines of the Canada-UAE Business Summit held today in Abu Dhabi, coinciding with the visit of Mark Carney, Prime Minister of Canada, to the United Arab Emirates, he said non-oil trade between the two countries reached around US$3.5 billion last year, noting that this figure remains below the ambitions of both countries, which seek to strengthen trade and investment ties in support of sustainable economic growth.

He said UAE investments in Canada continue to grow, currently exceeding US$30 billion across multiple sectors, including logistics, ports and energy.

Al Zeyoudi added that today’s summit in Abu Dhabi discussed opportunities to increase investments in renewable energy, expand air travel between the two countries and enhance UAE investments in Canada’s infrastructure sector.

He said there is a plan to double these investments in the coming period, especially following the signing of a Memorandum of Understanding between the Ministry of Investment and its Canadian counterparts, reflecting the joint commitment to developing investments in the promising Canadian market.

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