Archive: No.10 / Simon Dawson, OGL v3.0.
Canada and the United Arab Emirates signed a Comprehensive Economic Partnership Agreement and launched a broader strategic partnership Tuesday, Prime Minister Mark Carney’s office said after his meeting with Abu Dhabi’s crown prince in Ottawa.
The official Canadian readout confirms the signing of the trade agreement, known as CEPA, during the visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan. The prime minister’s office said the agreement was negotiated in 47 days and is intended to expand commercial opportunities and strengthen economic ties.
The readout did not announce an entry-into-force date or provide a tariff schedule. Signing should not be confused with implementation: the statement establishes that the agreement has been signed, not that all of its trade provisions are already operating.
The two countries also launched the Canada-UAE Strategic Partnership, a framework covering trade and investment, energy, innovation, defence and security, and sustainable development.
To advance that partnership, Canada and the UAE signed several memoranda of understanding covering energy, defence, and diplomatic learning and development, the readout said. It did not publish the individual texts or spell out financial commitments under those memoranda.
Carney and the crown prince welcomed progress toward the UAE’s previously announced commitment to invest $70 billion in Canada, including potential major investments in energy, transportation infrastructure and technology. The statement described progress toward that existing commitment, not a new $70 billion pledge made Tuesday.
The leaders also discussed the Middle East, maritime security and international peace and security. They reaffirmed support for dialogue, regional stability, freedom of navigation and multilateral cooperation, according to the Canadian account.
The prime minister’s office described the visit as the first to Canada by a crown prince of Abu Dhabi. The leaders agreed to remain in close contact.
JBizNews Desk | Ottawa
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