ABU DHABI, 28th October, 2026 (WAM) — Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, said the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Canada is expected to contribute approximately US$8.7 billion to the UAE’s gross domestic product (GDP) and increase UAE exports to Canada by around US$11.8 billion by 2033, highlighting its anticipated positive impact on both countries’ economies, trade and investment.
In statements to the Emirates News Agency (WAM) on the occasion of the agreement’s signing, Al Zeyoudi said it was the first CEPA the UAE had signed with a G7 member country. He noted that work with other G7 countries had been completed, but the agreement with Canada was the first to be signed within the group.
He explained that the agreement provides for extensive trade liberalisation, covering approximately 99% of the total value of existing bilateral trade and 97% of all tariff lines.
Al Zeyoudi said the agreement builds on strong bilateral trade performance, with non-oil trade reaching approximately US$4.2 billion last year, representing growth of more than 22%. Trade also grew by 18% in the first half of this year compared with the corresponding period last year.
He noted that a wide range of goods would benefit from the agreement, particularly existing UAE exports to Canada, including iron, aluminium, metals, gold, certain electronic products, pharmaceuticals and food products.
Canadian exports to the UAE, including machinery, electronic equipment, spare parts and food products, would also benefit, with opportunities for further manufacturing and re-export to global markets.
Al Zeyoudi emphasised that the agreement places significant importance on services and investment, pointing to the scale of UAE investments in Canada. He recalled the announcement of US$50 billion in planned UAE investments in Canada during the Canadian Prime Minister’s visit to the UAE last year.
He also said UAE and Canadian companies are currently engaged in trade and investment negotiations valued at US$15 billion.
Existing investments are concentrated in the energy sector, a key pillar of bilateral relations, as well as logistics, supported by DP World’s investments and strong presence in Canada, alongside real estate and various infrastructure projects.
Al Zeyoudi said current investment priorities include data centres, which are expected to play a major role in the next phase of investment. He added that numerous agreements and memoranda of understanding would be announced under the partnership, sustaining momentum in bilateral relations.
He also highlighted Canadian investments in the UAE across real estate, logistics and energy, alongside investment funds supporting Canada’s expansion into the wider region through the UAE.
Al Zeyoudi underscored the opportunities the agreement offers small and medium-sized enterprises (SMEs) and entrepreneurs, as well as its focus on service sectors that facilitate business operations for companies and entrepreneurs based in the UAE, while safeguarding the interests of both countries.
He explained that Canada views the UAE as a gateway to the Middle East and Africa in particular, while the UAE sees Canada as a gateway for expanding its investments in Canada and accessing the US market.
Source: Emirates News Agency