https://arab.news/rejr2
RIYADH: Bilateral trade between the UAE and Canada is set to receive a boost through lower tariffs and improved market access after the two countries concluded negotiations on a Comprehensive Economic Partnership Agreement.
The CEPA is set to enhance the already significant bilateral trade, which reached approximately $4.2 billion in 2025, reflecting 21 percent growth compared with the previous year, according to a UAE government statement.
The negotiations, which began only last month, were completed in record time, making the agreement the fastest concluded under the UAE’s CEPA program.
The deal adds to the UAE’s broader strategy of expanding trade through bilateral agreements as it seeks to diversify its economy beyond oil. Since launching its CEPA program in September 2021, the UAE has concluded agreements with 38 countries and surpassed $1 trillion in total trade six years ahead of schedule, supporting its goal of more than doubling the size of its economy to over $800 billion by 2031.
Once ratified and implemented, the agreement will reduce tariffs, lower trade barriers and expand market access for businesses in both countries, while creating new opportunities in sectors including clean energy, advanced technology, data centers, aviation, agri-food and critical minerals.
UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi said: “The successful conclusion of CEPA negotiations between the UAE and Canada reflects the depth of the strategic relationship between our two nations and our shared desire to build a stronger, more resilient, and more sustainable economic partnership.”
He added: “Through this agreement, we are opening new horizons for the business communities of both countries, expanding investment and collaboration opportunities across priority sectors including clean energy, advanced technology, data centers, agri-food, aviation, and critical minerals — sectors where our two economies are genuinely complementary and where the potential for long-term, mutually beneficial partnership is considerable.”
Record-speed negotiation
The announcement came during Al Zeyoudi’s visit to Canada, where he led a delegation of Emirati officials and business leaders.
Al Zeyoudi and Canadian Minister of International Trade Maninder Sidhu announced the conclusion of negotiations, which the UAE described as the fastest completed under its CEPA program since its launch. Canadian officials also described the talks as among the fastest trade negotiations the country has completed.
“The conclusion of negotiations on a CEPA with the UAE, which began last month, is the fastest negotiation ever completed by Canada, marking an important milestone in the growing relationship between our countries,” said Sidhu.
He added that the agreement will unlock opportunities for Canadian businesses to use the UAE as a regional commercial hub to expand exports while encouraging UAE investment in projects that support Canada’s long-term economic goals.