Canada, UAE sign trade deal as Carney pushes to reduce US reliance
The agreement follows 47 days of talks and would expand trade and investment ties as bilateral merchandise trade reached $3.4 billion in 2024.
- On Friday, Canada and the United Arab Emirates concluded free-trade agreement negotiations, with International Trade Minister Maninder Sidhu announcing the deal in Toronto moves toward legal review and ratification.
- UAE Minister of Foreign Trade Thani al-Zeyoudi called the 47-day negotiation "record time," reflecting both governments' priority to finalize the pact swiftly amid $3.4 billion in bilateral trade from 2024.
- Sidhu plans to lead a Canadian trade delegation to the UAE later this year, following the country's $70 billion investment pledge announced last year with announcements expected soon.
- Separately, the United States Commerce Department upgraded the UAE to "A:5" export status in July, eliminating restrictions on unmanned aerial vehicle programs and facilitating license-free dual-use technology access.
- Analysts suggest the policy shift aims to encourage UAE firms to prioritize American partnerships over Chinese vendors, supporting the country's artificial intelligence ambitions through accelerated chip access.
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35 Articles
The governments of Canada and the United Arab Emirates have announced that they have concluded negotiations on a free trade agreement.
Canada and UAE Forge Economic Ties with New Trade Agreement
Canada and the United Arab Emirates have signed a trade agreement to reduce barriers for goods and investments. This initiative is part of Prime Minister Mark Carney's strategy to diversify Canada's economy beyond its traditional reliance on the United States, gaining greater access and capital influx from the Middle East.
Canada, UAE sign trade deal as Carney pushes to reduce US reliance
Canada and the United Arab Emirates signed a trade agreement on Friday aimed at lowering barriers to goods, services and investment, as Prime Minister Mark Carney urgently seeks new markets for an economy he says is overly reliant on the United States.
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