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ADDCI and Alberta eye wider economic cooperation

Trade exchanges between UAE and Canada at Dh8.5b

Gulf News

Abu Dhabi: Ways to promote trade and investment relations between Abu Dhabi and Canada’s Alberta Province were discussed by the president of the Abu Dhabi Chamber of Commerce and Industry (ADCCI) and Cal Dallas, the visiting International and Intergovernmental Relations Minister, Alberta government.

“The Canadian senior official’s visit provides an outstanding opportunity to enhance trade and industrial cooperation and to update the Canadian delegation on Abu Dhabi’s plans for future projects as part of Abu Dhabi Economic Vision 2030,” Mohammad Thani Murshid Al Rumaithi said in remarks at the meeting which was attended by ADDCI’s senior officials and members of the Canadian delegation.

Trade exchanges between the two countries stood at Dh8.5 billion by the end of 2011 but the figure does not reflect the real potentials and their desire for stronger relations, Al Rumaithi, who is also Chairman of the UAE Federation of Chambers of Commerce and Industry (FCCI), noted.

He urged Canadian businesses to engage in opening up new venues for industrial investments in Abu Dhabi.

A recent report by ADCCI shows that 88 Canadian companies operate in the UAE along with 78 commercial agencies and 306 Canadian trademarks registered in the country.

Nine UAE companies have investments in Canada’s different sectors such as aluminium, oil and gas, energy, real estate, ports, healthcare, wholesale and retail industry.