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Ministers Maninder Sidhu of Canada and Dr. Thani bin Ahmed Al Zeyoudi of the UAE welcomed the conclusion of negotiations for the Canada-UAE Comprehensive Economic Partnership Agreement during an event in Toronto on July 24, 2026. The deal, launched in November 2025 during a visit by Prime Minister Mark Carney to the UAE, will reduce trade barriers, improve market access and strengthen supply chain resilience once ratified. Global Affairs Canada described the negotiations as among the fastest the country has ever completed, reflecting strong political will on both sides to deepen commercial ties.
The UAE is Canada’s top export market in the Middle East, with bilateral merchandise trade reaching $3.5 billion in 2025 according to Global Affairs Canada data. Canadian merchandise exports to the UAE rose nearly 10 percent year over year in 2025 after a 24 percent increase between 2023 and 2024, while commercial services trade stood at $445 million in 2024. Earlier Canadian assessments had projected that similar agreements with partners such as South Korea and Chile doubled trade volumes within a decade, suggesting potential for comparable growth in UAE relations.
Upon implementation the agreement will advance economic priorities by expanding opportunities for businesses and workers in both countries, according to the joint announcement from Global Affairs Canada. It builds on the existing Foreign Investment Promotion and Protection Agreement that has already drawn capital to major projects and supported job creation. The pact targets enhanced collaboration across sectors where the economies complement each other, including aerospace, agri-food, seafood, clean energy, advanced technology and critical minerals.
In remarks at the announcement, Sidhu stated, “The successful conclusion of Canada-UAE CEPA negotiations reflects our shared economic ambition and will lead to new opportunities for Canadian and UAE businesses and workers. This agreement will help Canadian companies expand internationally and create good-paying jobs while promoting Canada as a reliable destination for trade and investment.” The Canadian minister also participated in a roundtable hosted by the Canada-UAE Business Council with Emirati business delegates and Canadian industry leaders to explore further investment avenues.
Al Zeyoudi for his part noted that bilateral non-oil trade has grown significantly in recent years. He said, “The conclusion of CEPA negotiations between the UAE and Canada marks a defining chapter in a relationship that has grown significantly in depth and ambition. Bilateral non-oil trade has grown significantly in recent years, and this agreement will accelerate that trajectory by opening markets, reducing barriers, and creating a framework for our private sectors to collaborate at scale. Canada is a trusted partner of the UAE, and this CEPA reflects the confidence we have in one another.” The UAE minister invited Sidhu to visit with a Canadian business delegation to pursue additional opportunities.
The agreement forms part of the UAE’s broader CEPA programme, which officials said has secured deals with 38 countries since its launch in September 2021. Those pacts support the country’s foreign trade strategy aimed at increasing market access and investment flows with high-growth economies. UAE development plans target doubling the economy to more than $800 billion by 2031, with total trade having already reached $1 trillion six years ahead of related benchmarks according to national statements.
A Canadian business delegation is expected to join Sidhu on a future trip to the UAE, while both sides plan to connect investors at the Canada Investment Summit scheduled for September 2026 in Toronto. The ministers discussed shared trade interests during their meeting, with Sidhu highlighting Canada’s push to diversify partnerships globally. The CEPA negotiations concluded less than nine months after their formal launch, underscoring the momentum built since the 2025 announcement of intent by Carney and UAE President Sheikh Mohamed bin Zayed Al Nahyan.
