Al Mansouri, Canadian FM discuss ties
H.E. Sultan bin Saeed Al Mansouri, Minister of Economy of the UAE, and Rob Nicholson, Canadian Foreign Affairs Minister, have met to discuss ways of promoting the UAE-Canadian bilateral relations in the service of the common interests of both countries and to explore the latest political regional and international developments.
During the meeting, Minister Al Mansouri emphasised that partnership between the public and private sectors is a key to the creation of a fully-integrated innovative business environment.
Minister Al Mansouri also noted that trade between the UAE and Canada went up to Dh6.81 billion (around US$1.8) by the end of 2013, 18.1% increase over the previous year.
The minister also proposed that trade between the two countries should double in the next five years, along with efforts to increase UAE exports to Canadian markets.
He further made note of potential cooperation between the two countries at all levels on exploring investment opportunities in Canada’s vital sectors, in addition to involve national small and medium size enterprises (SMEs) and large companies in the effort to also tap other international markets.
He also noted that the UAE investments in Canada went up to Dh16.2 billion (US$4.4 billion).
Al Mansouri invited the Canadian side to actively participate in the World Expo 2020 which will represent an opportunity for Canada to promote its tourism and businesses and through which Dubai seeks to raise the bar of global economic events.
For his part, the Canadian minister noted that his visit to the UAE is aimed at opening new avenues of cooperation with the UAE in various sectors, exploring investment opportunities in the UAE as well as promoting the investment opportunities provided by Canada.
Canadian Foreign Minister Rob Nicholson also expressed his country’s desire to promote economic relations with the UAE through cooperation in sectors such as renewable energy, mining, advanced industries, food security, agriculture, innovation, FDI, SMEs, as well as in tapping investment opportunities provided by World Expo 2020.