Canada, UAE Finalize Trade Negotiations to Deepen Economic Ties
Canada and the United Arab Emirates have finalised negotiations on a bilateral trade agreement, marking a significant step toward strengthening economic cooperation between the two countries. The deal, known as the Comprehensive Economic Partnership Agreement, is expected to support Canada’s efforts to expand its trade relationships beyond the United States while enabling the UAE to boost exports outside its traditional oil sector.
Canadian Trade Minister Maninder Sidhu confirmed the development, noting that the agreement would improve market access for Canadian businesses and reduce trade barriers. The pact is set to cover a wide range of sectors, including engineering, aerospace, agriculture and clean technology, with provisions aimed at lowering tariffs and simplifying regulatory processes.
Although a date for the formal signing has not yet been announced, Sidhu indicated that the remaining procedures, including legal review and ratification, would be completed within a short timeframe. On the UAE side, Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi highlighted the importance of stable and transparent trade relationships in supporting global economic growth.
Trade between Canada and the UAE has been expanding steadily, with total bilateral exchange valued at approximately 3.5 billion Canadian dollars in the past year. The UAE remains a key destination for Canadian exports such as machinery, motor vehicles and related parts. At the same time, UAE-backed investment entities have shown growing interest in opportunities within Canada, particularly in the energy sector, where further announcements are anticipated.
