OTTAWA, Oct. 27 (Xinhua) -- Canada and the United Arab Emirates (UAE) signed a free trade agreement (FTA) on Tuesday as Canadian Prime Minister Mark Carney met with visiting Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan in Ottawa.
The two countries signed the Canada-UAE Comprehensive Economic Partnership Agreement following negotiations completed in a record 47 days, the shortest time either country has taken to secure a free trade agreement, according to a statement from the Canadian Prime Minister's Office.
Once fully implemented, the agreement will lower or eliminate tariffs on over 99 percent of current Canadian exports to the UAE, said the statement.
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 in the industrial, agricultural, forest, fish and seafood, environmental, and engineering sectors. The agreement is expected to enter into force in 2027.
The Prime Minister's Office said the first-ever visit to Canada by a Crown Prince of Abu Dhabi marked significant progress toward the UAE's commitment to invest 70 billion Canadian dollars (50 billion U.S. dollars) in Canada, announced during Carney's visit to Abu Dhabi in November 2025.
The two sides also signed several commercial and energy cooperation arrangements, along with two memorandums of understanding on defense cooperation and diplomatic training, and announced they will launch negotiations toward an extradition treaty and a mutual legal assistance treaty, the statement added. ■
