Dubai: Sultan Bin Saeed Al Mansouri, the UAE Minister of Economy, last week made a presentation to Canadian investors on the strengths of the UAE's economy and the excellent investment climate in the country.

He was speaking to investors at a meeting organised by the Chamber of Commerce and Industry of Montreal.

Al Mansouri stressed the financial and diplomatic relations that have existed between the UAE and Canada for 36 years.

The UAE is Canada's largest export market in the Middle East and North Africa region, and the 19th largest export partner in the world.

After his presentation, the UAE business delegation held meetings with representatives of major Canadian companies to explore opportunities in various sectors, including oil and gas, information technology, construction, petrochemicals, small and medium enterprises, logistics, and aerospace industries.

The UAE companies that participated in the meetings included Mubadala, Abu Dhabi Polymers Company (Borouge), the Abu Dhabi Future Energy Company (Masdar), the Abu Dhabi National Energy ‘Taqa', Dubai Industrial Investment, Al Ghurair Investment Group, Al Otaiba Group of Companies, Al Dahra Agriculture and S. S. Lootah Group of Companies.

Fundamentals

Al Mansouri and the business delegation also met with Quebec Premier Jean Charest to discuss investment in key economic sectors and the investment climate for companies in both countries.

Charest showcased the economic fundamentals of Quebec, one of the eastern provinces of Canada, which has various sources of energy and other natural resources such as lumber, natural gas and minerals.

The two parties agreed on the importance of cooperation in the field of tourism through the exchange of tourists and the marketing of tourist destinations in both countries, through competent authorities. The two sides discussed the need for cooperation in the field of innovation and small and medium enterprises.

Aviation dispute

Meanwhile, Ottawa and the UAE have moved closer to resolving their disputes over more landing rights for Emirates and Etihad at Canadian airports, Gulf News has learnt.

At present, both UAE carriers are limited to three flights each per week to Toronto and are seeking greater access to Calgary, Montreal and Vancouver — an expansion opposed by Air Canada and Canadian Prime Minister Stephen Harper.

Last week in Ottawa, UAE Foreign Minister Shaikh Abdullah Bin Zayed Al Nahyan met his Canadian counterpart, John Baird, where the issue of landing rights was raised.

"The two met several months ago at a resort near Abu Dhabi," one Canadian government source told Gulf News. "The two seem pretty comfortable together and had a good rapport — better than with [previous Canadian Foreign Minister Lawrence] Cannon. The landing rights file is being discussed at their level. We believe it's only a matter of time before the issue is resolved."

Previously, Cannon had refused to meet with UAE Ambassador Mohammad Abdullah Al Ghafli.

At a press conference in Ottawa, Shaikh Abdullah said he believed the issue of landing rights isn't closed yet, telling reporters he is interested in "diversifying our relationship with Canada". "So definitely I think having more trade between the UAE and Canada, and using the UAE as a hub, I think is [beneficial] for both countries," he said.

Dalal Zayouna, business development manager for the Canadian Arab Business Council in Toronto, told Gulf News that more flights between the UAE and more Canadian airports were essential to improve ties.

With inputs from Mick O'Reilly, Senior Associate Editor