Canada, UAE sign economic partnership deal, launch strategic partnership

By Merve Aydogan

HAMILTON, Canada (AA) - Canada and the United Arab Emirates signed a Comprehensive Economic Partnership Agreement (CEPA) on Tuesday and launched a strategic partnership, according to a statement from the Prime Minister's Office.

Prime Minister Mark Carney and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan met in Ottawa and took part in the signing ceremony.

The statement said it was the first visit to Canada by a Crown Prince of Abu Dhabi.

The leaders reflected on "the strong momentum they have built since the Prime Minister’s visit to the United Arab Emirates (UAE) last November," and underscored the importance of "deepening the trusted partnership between Canada and the UAE and increasing economic cooperation in a more dangerous and divided world," it said.

The CEPA, which was "successfully negotiated in a record 47 days," will strengthen economic ties, expand commercial opportunities, and support long-term prosperity in both countries, according to the statement.

The leaders also welcomed the launch of the Canada-UAE Strategic Partnership, which will establish a framework for deeper cooperation across shared priorities, including trade and investment, energy, innovation, defense and security, and sustainable development.

To advance the partnership, Canada and the UAE signed several memoranda of understanding to strengthen cooperation in key areas, including energy, defense, and diplomatic learning and development.

Carney and Sheikh Khaled also welcomed progress toward the UAE’s historic commitment to invest $70 billion in Canada, including opportunities to advance major investments in energy, transportation infrastructure, and technology.

The leaders exchanged views on regional and global developments, including in the Middle East and issues relating to maritime security and international peace and security.

They reaffirmed their commitment to "dialogue, regional stability, freedom of navigation, and effective multilateral cooperation," the statement noted.

The two leaders agreed to remain in close contact.

Merve Gül Aydoğan Ağlarcı