Ministry of Economy discusses cooperation with Canada-UAE Business Council

DUBAI, 27th May, 2017 (WAM) -- Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Under-Secretary of the UAE's Ministry of Economy, has met with Farid Amin, Chairman of the Canada-UAE Business Council, CUBC, to discuss developing economic and trade relations between the two countries, and encouraging private sector participation.

During the meeting, the two sides discussed the role of the Council in communicating with the private sector in the two countries and enhancing benefits and opportunities available for investors and businesspeople.

Al Shehhi and Amin also reviewed important areas of joint cooperation in the trade, industry, tourism and renewable energy sectors.

Al Shehhi said that the economic and trade relations between the UAE and Canada are witnessing remarkable growth, supported by a number of fruitful cooperation agreements signed by the two countries during the past period, as well as the creation of a joint economic committee to enhance prospects to establish partnerships in various sectors of common interest.

He added that the private sector plays a major role in developing economic relations and diversifying the fields of cooperation, highlighting that the Canada-UAE Business Council's pivotal role presents an ideal platform for communication between the private sector and government agencies on both sides.

Innovative small and medium enterprises, SMEs, are a priority on the agenda of economic relations between the two countries, Al Shehhi continued. "The past period has witnessed a number of concrete steps in developing mechanisms for cooperation and exchange of experiences, which opens up a wider area for businesspeople and investors to take advantage of the opportunities available to them," he added.

"The volume of non-oil trade between the two countries recorded US$3.9 billion at the end of 2016. There are currently 46 Canadian companies registered with the Ministry, while there are more than 1,326 Canadian brands available to the UAE market," the Under-Secretary concluded.