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11/14/24, 9:59 AM Latest News
H.E. Bin Touq hailed the strong and ever-growing ties between the UAE and Canada, especially in economic
and trade sectors. "We are committed to enhancing economic cooperation to scale new heights of growth

and prosperity by capitalizing on the promising opportunities and potential within both markets," he noted.
In this context, H.E. stated: “Canada is a strategic and valuable economic partner for the UAE in North

America, and the UAE serves as a vital logistics hub for Canadian exports to the Middle East and North
Africa region. This meeting is a testament to our shared commitment to deepening existing trade and

economic partnership, exploring opportunities for cooperation in areas of mutual interest, and exchanging
expertise and best practices in policies that support the growth and sustainability of both economies, while

fostering stronger connections between the two business communities.”
The meeting discussed ways to enhance joint efforts in facilitating import and export procedures and
providing more incentives to businesses and the private sector in both the UAE and Canadian markets.

Furthermore, it explored a range of economic diversification initiatives and their role in driving the transition
towards innovative and sustainable economic models. The two ministers underlined the importance of

strengthening cooperation in the tourism and aviation sectors, given the growing number of flights between
the two countries, operated by the UAE’s national carriers.
During the meeting, H.E. Bin Touq highlighted the enablers and opportunities within the UAE’s business

landscape, which has evolved significantly in recent years. He pointed out the pivotal role of the new laws
and regulations, such as the family business law, cooperative law, commercial agencies law, trading by

modern technology means and arbitration regulations, the introduction of 100 per cent foreign ownership
across sectors, as well as intellectual property rights protection.

H.E. Bin Touq, at the end of the meeting, extended an invitation to the Canadian minister to attend the fourth
edition of Investopia, set to take place in February 2025. The event will serve as an ideal platform to explore

the UAE’s abundant investment prospects for international investors and expand partnerships across multiple
economic sectors.
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