December 23, 2022
2 mins read

UAE, Canada review ties in transport sector

During the meeting, Al Marri stressed that Canada is one of the UAE’s strategic trade partners in North America, noting the country’s keenness to boost their bilateral ties to new and elevated levels…reports Asian Lite News

Abdullah bin Touq Al Marri, Minister of Economy, highlighted the deep-rooted relations between the UAE and Canada, and noted that they have witnessed significant overall growth, aided by the support of their leadership.

He made this statement during his meeting with Omar Alghabra, Canadian Minister of Transport, at the headquarters of the Ministry of Economy in Dubai.

During the meeting, Al Marri stressed that Canada is one of the UAE’s strategic trade partners in North America, noting the country’s keenness to boost their bilateral ties to new and elevated levels.

The statistics on the trade exchange and mutual investment between the two countries highlight their advancing bilateral ties, he added. The non-oil trade between the UAE and Canada totalled more than AED10.6 billion in the first nine months of 2022, an increase of 14.6 percent compared to the same period in 2021.

He also affirmed his keenness to enhance the UAE’s cooperation with the Canadian government in strategic areas of mutual concern, including transport, logistics, space, technology, food security and renewable energy.

During the meeting, Al Marri briefed Alghabra about the UAE’s achievements over the past five decades, including establishing an economic environment that supports business growth and attracts investments, in line with the forward-looking vision of the UAE’s leadership to establish an innovative economic model based on knowledge.

He also mentioned amendments to over 40 laws, such as one that allows foreigners to have full ownership of Emirati businesses.

The number of passengers travelling from the UAE to Canada was more than 45,000 in 2019 while the air traffic between the two countries witnesses some 286,000 passengers per year.

The number of Canadian visitors staying in hotels in the UAE reached 170,000 residents and non-residents in 2021, according to figures from the World Tourism Organisation.

The UAE is the second leading trading partner of Canada in the Gulf Cooperation Council (GCC) and the region in 2021, with their non-oil trade amounting to nearly AED12.7 billion in 2021, a rise of 59.3 percent compared to 2020 while Emirati non-oil exports to Canada amounted to more than AED1.2 billion during the first nine months of 2022, an increase of 9 percent compared to the same period in 2021.

Emirati re-exports to Canada totalled more than AED880 million, a rise of 45 percent in the first nine months of this year compared to the same period in 2021 while Emirati imports from Canada amounted to more than AED8.4 billion during the first nine months of 2022, an increase of 13 percent compared to the same period last year.

Canadian direct investments in the UAE until the start of 2021 amounted to AED3.6 billion, a rise of 100 percent over the past eight years while Emirati investments in Canada totalled some AED23.3 billion until the start of 2021.

ALSO READ: IMF lauds UAE economy’s quick survival from COVID-19

Previous Story

Kazakh envoy calls Emirati-Kazakh ties ‘a successful model’

Next Story

GCC’s digital economy advancing rapidly: Oman

Latest from -Top News

PLA at 76: The Party’s Army, Not the People’s

At 76 years old, the PLA continues to exemplify how authoritarian regimes pervert military institutions, creating forces that serve narrow political interests rather than constitutional democracy, writes Major General RPS Bhadauria (Retd)

Why China’s National Day is no celebration for Asia

Whilst China’s leadership celebrates another year of Communist rule, Asia’s democracies are tallying the mounting costs of Beijing’s repressive policies at home and aggressive adventurism abroad, writes Colonel Danvir Singh (Retd) As

Trump’s 20 points to peace in Gaza

Trump unveils 20-point Gaza peace plan with Netanyahu’s backing, offering hostages’ release, technocratic rule, and global oversight, as Hamas faces pressure to accept or risk further war. US President Donald Trump has

Trump Urged to Back Baloch Rights in Pakistan

The letter urged President Trump to recognise the Baloch people’s right to self-governance and to raise his voice against the alleged atrocities committed by the Pakistani military…reports Asian Lite News In a

ISI Steers Bangladesh Closer to Turkey

The Jamaat-e-Islami, at the behest of the ISI, coaxed the Muhammad Yunus government to stitch a closer alliance with Turkey. …reports Asian Lite News Bangladesh, which is facing turmoil following the fall
Go toTop

Don't Miss

Eid Al-Adha on June 16

The Saudi Supreme Court confirmed the crescent moon sighting on

UAE showcases nuclear regulatory strength at IAEA

The conference aims to review global developments related to nuclear