Canada signs UAE trade deal in push for markets beyond the US
Agreement signed in Abu Dhabi
The governments said the deal will lower tariffs, cut administrative obstacles and improve market access. Canada and the UAE also concluded preliminary agreements covering energy, diplomacy and defence.
Canada seeks more trade partners
Efforts to reach a trade agreement with Washington have faltered. In response, Carney has pursued deals with countries across the Asia Pacific, Europe and the Middle East. The Canadian government said the agreement could open opportunities for farmers, manufacturers and aerospace businesses. The areas mentioned include pulses, canola, industrial machinery and power generation equipment, as well as other Canadian innovations.
UAE market and investment prospects
The UAE is the largest Middle Eastern destination for Canadian exports and a significant purchaser of Canadian vehicles, vehicle parts and machinery. The agreement is intended to strengthen commercial access between the countries.
UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi said exporters could gain improved access and businesses could pursue investment in logistics, communications, advanced technology and manufacturing. He said those opportunities would contribute to a resilient, diversified and globally connected economy.
Key points
- Canada and the UAE signed a pact to reduce trade barriers and encourage investment.
- The agreement seeks to cut tariffs, reduce red tape and improve business access.
- The signing follows stalled efforts by Canada to reach a deal with Washington.
- The UAE is the largest Middle Eastern market for Canadian exports.