UAE and Canada Sign New Agreement to Encourage Investments

Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE 

                     

UAE and Canada Sign New Agreement to Encourage Investments

Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Mark Carney, Prime Minister of Canada, discussed on Thursday the trajectory of bilateral relations and opportunities to expand cooperation across all sectors, particularly economic, investment, and development, in a way that serves both countries' vision for sustainable development and prosperity and strengthens their shared interests.

This came during the UAE President's reception of the Canadian Prime Minister at Al Shati Palace in Abu Dhabi, where the latter is on an official visit to the UAE. Sheikh Mohamed bin Zayed Al Nahyan welcomed his guest, expressing his hope that the visit would contribute to advancing the distinguished cooperation between the two countries to broader horizons.

During the meeting, both sides affirmed their shared commitment to building upon the strong relations that have united the UAE and Canada for more than five decades. 

They expressed their aspiration to establish fruitful partnerships in numerous fields, especially investment, trade, technology, artificial intelligence, renewable energy, climate, education, culture, sustainability, and other areas that constitute shared development priorities for both countries.

The two sides also exchanged views on a number of regional and international issues and developments of mutual interest, emphasizing in this context the two countries' commitment to supporting efforts for peace, security, and regional and global stability for the benefit of all the world's peoples and nations.

Sheikh Mohamed bin Zayed Al Nahyan affirmed that UAE-Canadian relations serve as a model of cooperation for achieving development and prosperity in the region and the world at large, noting the two countries' shared vision on many issues that support development, peace, and multilateral international action for the benefit of all nations.

For his part, the Canadian Prime Minister praised the level of development in UAE-Canadian relations, emphasizing his country's keenness to enhance promising cooperation opportunities that serve the common interests of both countries and contribute to consolidating the foundations of global peace, stability, and prosperity.

The UAE President also witnessed the signing of an agreement on the protection and promotion of investments between the two countries, which aims to strengthen economic cooperation and build strategic investment partnerships that serve the two countries' vision for sustainable development.

The agreement was signed on behalf of the UAE by Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, and on behalf of Canada by Prime Minister Marc Carney.

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During the Canadian Prime Minister's visit, the two sides announced the signing of a Memorandum of Understanding between their governments for investment cooperation.