UAE- Canadian Joint Economic Committee holds meeting on Tuesday

ABU DHABI, 25th September, 2016 (WAM)--Sultan bin Saeed Al Mansouri, Minister of Economy, will head a high-level delegation to the UAE- Canadian Joint Economic Committee meetings, which will be held from September 27- 29 in the Canadian capital, Ottawa.

The meetings will be co-chaired by Al Mansouri and the Honourable Chrystia Freeland, Minister of International Trade of Canada.

The two sides will explore opportunities for joint cooperation, and ways to enhance economic relations and upgrade them to the highest levels.

The UAE delegation includes Eng. Mohammed Ahmed bin Abdul Aziz Al Shehhi, Under-Secretary of the Ministry of Economy for Economic Affairs, a number of senior officials from the Ministry of Economy, as well as federal and local governments and private sector representatives.

The meetings will coincide with the launch of the UAE- Canadian Business Council in Toronto, which will be opened by Al Mansouri, on behalf of H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation. The event will also be attended by Mohammed Saif Hilal Al Shehhi, UAE ambassador to Canada, along with senior officials and representatives of the private sector from both sides.

Al Mansouri said the visit is very important to the two countries, in light of the strong strategic relationship between them. He noted that the UAE looks forward to serious and fruitful cooperation with Canada on a number of issues of mutual interest, along with the developing of new sectors.

The UAE minister reiterated that the joint committee is one of the vital tools that contributes to strengthening economic, trade and investment cooperation through research, exploring investment opportunities and overcoming challenges that investors face.

Al Mansouri added that, in light of the UAE's quest to enhance the competitiveness of its economy through building a knowledge-based economy by focusing on research and development, the ministry is keen to strengthen external partnerships in a number of economic sectors to acquire the experience and knowledge to serve the development goals of the state.

He further said that economic and trade ties between the UAE and Canada have seen significant growth during the last period, following the signing of a number of agreements to strengthen cooperation in areas of innovation, small and medium enterprises and encouragement of joint investments, which reflected positively on the development of foreign trade volume between the two countries.

The minister noted that non-oil trade between the two countries stood at $2.1 billion, including trade in the free zones. There are some 46 Canadian companies, 86 commercial agencies and 1, 490 Canadian trademarks registered with the Ministry of Economy.

Al Mansouri stressed the importance of strengthening cooperation in the aviation industry, being one of the key factors in advancing trade and economy and opening up wider horizons for joint investments in various sectors in both countries.


WAM/Majok