Page 447 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/14/24, 9:59 AM H.E. Bin Touq, Canadian counterpart explore means to strengthen cooperation in new and circular economy, tourism and aviation
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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