Canada and UAE sign comprehensive trade deal to lower barriers
Prime Minister Mark Carney and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan signed a Comprehensive Economic Partnership Agreement on Tuesday.
Deal targets tariff reduction
The agreement aims to eliminate tariffs on over 99 per cent of Canadian exports to the UAE. Officials stated the pact will also reduce red tape and improve market access for businesses in both nations.
Carney seeks new partners
Prime Minister Carney vowed to double Canada's non-US trade over the next decade following tensions with the United States. Subsequent attempts for a deal with Washington have broken down, pushing Ottawa to pursue pacts in the Middle East.
Specific sectors gain access
The Prime Minister's Office noted that new markets will open for Canadian farmers growing pulses and canola. Manufacturers of industrial machinery and the aerospace sector also stand to benefit from expanded access.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Express Tribune
- BOL News
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