DUBAI, 29th April, 2016 (WAM) – Eng. Sultan bin Saeed Al Mansouri, Minister of Economy, has discussed ways to strengthen economic ties between the UAE and Canada, with Jean Charest, former premier of Canadian province of Quebec, and his accompanying delegation.

Arif Lalani, Canadian Ambassador to the UAE, attended the meeting.

During the meeting, the two sides discussed ways to enhance economic and trade ties to open wider horizons in areas of co-operation in the economic sectors that could lead to promising partnerships that serve development interests, and enhance the volume of trade exchange.

They also exchanged views on current regional and international economic developments.

Al Mansouri stressed the keenness of the UAE to expand its relations with Canada to explore new co-operation opportunities with a focus on important sectors to strengthen and support sustainable development with a gradual shift to an economy based on knowledge and innovation.

The trade exchange between the two countries stood at $18.83 billion in 2014 compared to $969 million in 2015 with the exception of the free trade zones. The UAE investments in Canada are estimated at about AED20 billion.

The former Canadian official commended the progress achieved by the UAE in all fields, and stressed the interest of his country in boosting existing economic and trade ties with the UAE.

Charest said Canada seeks to diversify its foreign markets, notably the UAE market, given its attractiveness to investment.