During his recent visit to Canada, Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan signed the Comprehensive Economic Partnership Agreement with Canadian Prime Minister Mark Carney.
The agreement, the result of previous bilateral negotiations, “will reduce or eliminate tariffs on more than 99 percent of current Canadian exports to the UAE,” according to the text.
It will also address non-tariff barriers, “create a more predictable environment for trade and investment, and expand market access for Canadian goods and services, including those in the industrial, agricultural, forestry, fishing and seafood, environmental, and engineering sectors.”
It is scheduled to enter into force in 2027, along with other trade and energy cooperation agreements, as well as two memoranda of understanding on defense cooperation and diplomatic training. Negotiations are also underway for an extradition treaty and a mutual legal assistance treaty.
M.Pino
Source: xinhua
(Reference image source: Jason Hafso on Unsplash)
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