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Dubai, United Arab Emirates: – Senior executives representing leading Canadian and UAE businesses convened the Canada-UAE Business Council semi-annual board meeting on Friday, March 18, 2022 in Dubai, United Arab Emirates. The meeting was moderated by Musabbeh Al Kaabi, CEO and Co-Chairman of Mubadala UAE Investment Platform. During the event, policy priorities for 2022 were set and initiatives taken by the Business Council to strengthen bilateral commercial relations were reviewed.
In his opening remarks, Mr. Al Kaabi highlighted the role of the Canada-UAE Business Council and its mission to promote trade and investment between Canada and the United Arab Emirates by creating and exploiting new opportunities and building bridges between the two countries. Mr. Al Kaabi mentioned the recently announced partnerships between Mubadala and the Ontario Teachers’ Pension Plan, Brookfield and First Abu Dhabi Bank, and other Canadian and UAE businesses.
The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development of Canada, addressed the Board and discussed the importance of the Canada-UAE partnership and future opportunities. In addition, His Excellency Fahad Al Raqbani, Ambassador of the United Arab Emirates to Canada, and His Excellency Jean-Philippe Linteau, Consul General of Canada in Dubai and the Northern Emirate, provided brief but insightful comments on the state of Canada’s economic relationship with the UAE.
Dear Mary Ng said: “Canada and the UAE share strong commercial and deep civic ties. The UAE already has 150 innovative Canadian companies and I look forward to continuing to work with the UAE government and business leaders to foster closer trade and investment ties, Including progress on Canada-UAE foreign investment promotion and agreement.”
The Canada-UAE Business Council has approved its new 2022 policy agenda and plans – a series of A project to accelerate the country’s economic development over the next 50 years.
In closing, Mr. Al Kaabi reiterated the bright future for Canada-UAE economic relations, noting that the meeting’s “productive dialogue demonstrated the momentum of the United Arab Emirates and Canada’s strategic partnership. The United Arab Emirates is now Canada’s 15th in the country” Large foreign direct investor.” Mr Al Kaabi added, “The Canada-UAE Business Council will continue to play a key role in deepening bilateral trade and investment.”
“Canada has a strong and growing economic relationship with the UAE. Our two-way trade grew 24% last year to a new high of $2.5 billion.The Canada-UAE Business Council is a valuable partner in facilitating these commercial tradeAce. “
The Honourable Marcy Grossman, Ambassador of Canada to the United Arab Emirates
“Economic ties between Canada and the UAE have never been stronger. We are proud to be Canada’s largest export market in the MENA region, with two-way trade exceeding $2.5 billion.We welcome Canadians to take advantage of our position as a global hub, one-third of the world lives on a four-hour flight, 3.2 billion people are connected, and emerging markets alone have a GDP of $60 trillion. “
His Excellency Fahad Al Raqbani, Ambassador of the United Arab Emirates to Canada
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About the Canada-UAE Business Council:
The Canada-UAE Business Council (CUBC) is the leading business-led organization promoting greater trade and investment between Canada and the United Arab Emirates (UAE). Membership is by invitation only and is primarily concentrated at the executive level. Board members are leading Canadian and UAE companies: Al Jaber Group, Al Otaiba Enterprises, Brookfield, DP World, Cameron Development Corporation, EllisDon, Essa Al Ghurair Investments, Etihad, Globesight, Gowling WLG, Hatch, McCarthy Tétrault, Mubadala Investment Group, SkyPower Global, TAQA Global, TD Securities Inc. and Trimark Capital Group.
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