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Ottawa, Canada – Senior executives and federal ministers from major businesses in Canada and the United Arab Emirates gathered in Ottawa, Canada, this week for the Canada-UAE Business Council’s (CUBC) biannual board meeting.
The Canada-UAE Business Council is the premier organization promoting greater trade and investment between Canada and the United Arab Emirates. Spearheaded in 2013 by the foreign ministers of Canada and the United Arab Emirates, CUBC has become a shared economic prosperity pillar of the bilateral relationship.
Musabbeh Al Kaabi (CUBC Co-Chairman and CEO of UAE Investment Platform, Mubadala Investments) and Jean Charest (CUBC Co-Chairman and Partner McCarthy Tetreault) moderated the meeting at the United Arab Emirates Embassy in Ottawa, Canada. In their opening remarks, the co-chairs emphasized that Canada and the United Arab Emirates have strong commercial and people-to-people ties. Co-chairs highlighted recent bilateral successes, including Mubadala Capital’s acquisition of logistics business Canada Cartage, DP World’s soy development with Adroit Canada and historic investment in St John’s Port, and Brookfield’s acquisition of First Abu Dhabi Bank’s payments arm , tycoonThe co-chairs emphasized that there are huge opportunities for collaboration, especially in food security, healthcare, innovation, education and energy transition, as both countries work to decarbonize the natural resource sector and reduce greenhouse gas emissions.
The United Arab Emirates is the first country in the Middle East and North Africa region to launch a strategy to achieve net zero emissions by 2050. As part of this national effort, the United Arab Emirates will host the 28th Conference of the Parties (COP28) of the United Nations Framework Convention on Climate Change (UNFCCC) in Dubai Expo City in November 2023. The event will be a major global stocktake, guided by inclusiveness to reflect the views and contributions of the public and private sectors, academia and civil society.
His Excellency Abdulla bin Touq Al Marri, Minister of Economy of the United Arab Emirates, His Excellency François-Philippe Champagne, Minister of Innovation, Science and Industry of Canada, His Excellency Omar Alghabra, Minister of Transport of Canada, His Excellency Fahad Al Raqbani, Ambassador of the United Arab Emirates to Canada, and Canadian Embassy His Excellency Kris Panday, Ambassador of the Emirates, attended the meeting and emphasized the importance of the Canada-United Arab Emirates strategic partnership and its role CUBC in promoting the growing bilateral economic relationship. Ministers invited the Business Council to explore avenues for further cooperation to expand trade and investment flows and boost job creation in both countries. Based on the discussions, board members emphasized the need for improved air connectivity to unlock the potential for bilateral economic growth.
The Canada-UAE Business Council remains committed to fostering long-term economic and commercial relations between Canada and the United Arab Emirates.
“We are delighted to be Canada’s number one export market in the MENA region and the 15th largest foreign direct investor in Canada, but this is only a fraction of what can be achieved between our two powerful trading nations.
We are proud to host Dubai Expo last year and deepen international cooperation in culture, trade and innovation, and we look forward to hosting Cop28 next November to further develop government-private sector solutions to create a sustainable environment for all, without The country is left behind. “
His Excellency Fahd Saeed Ragban
Ambassador of the United Arab Emirates to Canada
“Canada and the UAE have a strong and friendly relationship. We are natural partners in trade and investment, education, humanities and other fields. There is enormous potential for our two countries to deepen this relationship, especially in energy transition, food security and job-creating investments. CUBC is a key partner in our mutual success“
His Excellency Crispandey
Ambassador of Canada to the United Arab Emirates
About the Canada-UAE Business Council
The Canada-UAE Business Council (CUBC) is the leading business-led organization driving business relations between Canada and the United Arab Emirates (UAE). Membership is by invitation only and is focused at the executive level. Board members are leading companies in Canada and the United Arab Emirates: ADX, 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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