[ad_1]
ABU DHABI, 22nd December, 2022 (WAM) — Abdullah bin Touk Al Mari, Minister of Economy, has highlighted the deep-rooted ties between the UAE and Canada, noting that with their support, they have witnessed Significant overall growth leadership.
He made the statement during a meeting with Canadian Transport Minister Omar Algabra at the headquarters of the Ministry of Economy in Dubai.
During the meeting, Al Marri highlighted Canada as one of the UAE’s strategic trading partners in North America, noting the country’s aspiration to take bilateral relations to new and higher levels.
He added that statistics on trade exchanges and mutual investment between the two countries underscored the development of the relationship between the two countries. Non-oil trade between the UAE and Canada totaled 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 desire to strengthen cooperation between the UAE and the Canadian governments in strategic areas of mutual interest, including transport, logistics, space, technology, food security and renewable energy.
During the meeting, Al Marri briefed Alghabra on the UAE’s achievements over the past five years, including establishing an economic environment that supports business growth and attracts investment, in line with the UAE leadership’s forward-looking vision for an innovation-based economic model. knowledge.
He also mentioned amendments to more than 40 laws, such as the one that allows foreigners to take full ownership of UAE businesses.
In 2019, more than 45,000 passengers traveled from the UAE to Canada, while air traffic between the two countries is approximately 286,000 annually.
According to the World Tourism Organization, the number of Canadian tourists staying at UAE hotels will reach 170,000 residents and non-residents in 2021.
The UAE is Canada’s second largest trading partner in the Gulf Cooperation Council (GCC) and the region in 2021, with non-oil trade in 2021 approaching AED12. , non-oil exports to Canada exceeded AED 1.2 billion, an increase of 9% over the same period in 2021.
UAE re-exports to Canada totaled more than AED 880 million, a 45% increase in the first nine months of this year compared to the same period in 2021, while UAE imports from Canada in the first nine months of 2022 totaled more than AED 8.4 billion, a year-on-year increase 13%.
Canadian direct investment in the UAE totaled AED 3.6 billion as of early 2021, a 100% increase over the past eight years, while UAE investment in Canada totaled approximately AED 23.3 billion as of early 2021.
[ad_2]
Source link