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11/14/24, 9:59 AM H.E. Bin Touq, Canadian counterpart explore means to strengthen cooperation - Middle East News 247

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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