Toronto, Canada – In a move that reflects the growing momentum in bilateral relations and the shared vision to take them to new heights of economic and investment cooperation. The UAE and Canada announced the successful conclusion of negotiations on the Comprehensive Economic Partnership Agreement between the two countries.
The successful completion of the negotiations and the reaching of the final terms of the agreement translate into the keenness of the leaderships of the two countries to continue elevating friendly relations to new horizons. This contributed to accelerating the pace of negotiations and completing them in record time. To become the fastest to achieve among the 38 agreements reached by the UAE under the umbrella of the Comprehensive Economic Partnership Agreements Program, which was launched in September 2021.
reduce customs duties
The agreement paves the way for a new phase of economic cooperation between the two countries by reducing customs duties and enhancing mutual access to markets. Providing qualitative opportunities for the private sector in a range of strategic and promising sectors. Including aviation, food and agriculture, biominerals, clean energy, and data centers. To support the building of a stronger, more flexible and sustainable economic partnership that serves the common interests of the two friendly countries.
The agreement works to improve the thriving non-oil trade between the UAE and Canada. Which amounted to about $4.2 billion in 2025, a significant growth of 21% compared to the previous year.
Under the agreement, customs duties will decrease, and companies’ access to the markets of the two countries will expand.
billions of dollars of investments
The agreement is expected to contribute to enhancing cooperation in key sectors. Including the metallurgical industries (aluminum and steel), aviation, space, agri-food and seafood, with billions of dollars in investments flowing into major projects. Including ports, mines, LNG facilities, data centers, and essential minerals.
The two countries had previously concluded an agreement to encourage and protect foreign investment, which contributed to building long-term partnerships between the industrial sectors in the two countries. It attracted capital to major projects and contributed to providing job opportunities.
Doubling the size of the UAE economy
The UAE’s comprehensive economic partnership agreements programme constitutes a fundamental pillar of its foreign trade strategy. It has witnessed the conclusion of agreements with 38 countries since its launch in September 2021.
By enhancing access to global markets and increasing trade and investment flows with high-growth economies, the UAE is taking significant steps towards achieving its goal. By doubling the size of its economy to exceed $800 billion by 2031. After the total value of its trade reached one trillion dollars six years before the target date.