Crown Prince of Abu Dhabi, Prime Minister of Canada witness signing of CEPA

OTTAWA, Canada: His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and the Right Honourable Mark Carney, Prime Minister of Canada, witnessed the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Canada, marking a new phase in economic partnership and cooperation. The agreement, signed during the Crown Prince of Abu Dhabi's official visit to Canada, provides an integrated framework to strengthen trade and investment flows between the two countries. Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, signed on behalf of the UAE, while the Honourable Maninder Sidhu, Canada's Minister of International Trade, signed on behalf of Canada. The ceremony was attended by ministers, senior officials, and trade and business leaders from both countries. His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan said the signing of the UAE-Canada CEPA reflects the strength of bilateral relations and a shared commitment to further advancing them. He affirmed that the UAE continues to work with Canada to build a long-term economic partnership that facilitates trade and investment and creates new pathways for private-sector growth and innovation in both countries. His Highness Sheikh Khaled emphasised the importance of concluding the agreement to support bilateral trade, strengthen investment and open new avenues for cooperation in priority sectors. He said this would help diversify economic opportunities, enhance the competitiveness of both economies and serve their shared interests. The agreement establishes a comprehensive framework to strengthen bilateral economic ties by reducing or eliminating tariffs on a wide range of goods, improving market access, streamlining customs procedures, facilitating trade in services and improving the investment environment. It will also create new pathways for cooperation between the business communities of both countries following the completion of ratification procedures and the agreement's entry into force. The signing builds on growing momentum in UAE-Canada economic relations. Bilateral non-oil trade reached C$5.9 billion, equivalent to approximately US$4.2 billion, in 2025, representing growth of 21 percent compared with 2024 and 19 percent compared with 2023. During the first half of 2026, bilateral non-oil trade reached approximately C$2.85 billion, equivalent to US$2.03 billion, up 19 percent compared with the same period in 2025. Canada is the UAE's third-largest trading partner in the Americas, while the UAE is Canada's largest Arab trading partner. The agreement also reinforces the strategic economic partnership between the two countries, complementing the UAE-Canada investment framework valued at up to C$70 billion, equivalent to US$50 billion. The framework was announced during Prime Minister Mark Carney's visit to the UAE in November 2025. It aims to accelerate bilateral cooperation across sectors including clean energy, mining, artificial intelligence, agri-food, aviation, space and infrastructure. The agreement is expected to create significant opportunities for exporters, investors and entrepreneurs in both markets, support supply-chain resilience and strengthen commercial connectivity between North America, the Middle East, Africa and Asia. It will also provide businesses with greater certainty and stability, as well as improved access to two competitive, innovation-driven economies. The Comprehensive Economic Partnership Agreements programme is a key pillar of the UAE's foreign trade agenda. Since its launch in September 2021, the programme has helped expand the UAE's network of trading partners worldwide, reflecting the country's commitment to open, rules-based trade. This commitment recognises the role of trade in supporting economic growth and diversification while opening new avenues for private-sector institutions and companies to expand into promising markets.