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UAE, Canada eye trade pact: The UAE is in talks with Canada on a trade agreement that could nearly double bilateral trade to about CAD 7 bn (USD 5 bn) from roughly CAD 3.5 bn, Bloomberg reports, citing comments by Economy Minister Abdulla bin Touq Al Marri at an Investopia conference in Calgary. “Both sides have to negotiate the terms and text details and legality,” he said, adding that the UAE is seeking Canadian investments in agritech as it works to cut its reliance on food imports to 60% from 90%.
The two countries are looking to deepen economic and investment ties: Economy Minister Abdulla bin Touq Al Marri and Canada’s Transport Minister Stephen MacKinnon discussed strengthening cooperation in the logistics, transport, aviation, and entrepreneurial sectors, Wam reports
Al Marri also met with Premier of Alberta Danielle Smith to discuss cooperation in sectors including clean energy, food security, tourism, digital technologies, air transportation, space, and advanced manufacturing, Wam reported elsewhere.
ICYMI- The two countries were also in talks earlier this year for the UAE — alongside Saudi Arabia — to invest in Canada’s AI sector. Prior to the talks, Dubai International Chamber had established a representative office in Toronto to boost investment relations. The UAE already has a presence in Canada through Nova Chemicals, acquired by Adnoc and OMV for USD 6.3 bn. Canada’s exports to the UAE rose 24% last year to CAD 2.6 bn, while imports stood at CAD 797 mn.
UAE diplomacy at the UN focused on Gaza: Foreign Affairs Minister Sheikh Abdullah bin Zayed Al Nahyan met with Israeli Prime Minister Benjamin Netanyahu on the sidelines of the UN General Assembly in New York, in what was the first meeting between an Arab official and Netanyahu since Israel’s attack on Qatar, according to a statement. Al Nahyan stressed the importance of ending the “bloody” war and reaching a resolution based on the two-state solution.
UAE diplomatic advisor to the president Anwar Gargash said the country’s top priority during UNGA was halting Israel’s plans to annex Palestinian land, ending the war in Gaza, stopping the bloodshed, and securing humanitarian access, according to an X post.
