Dubai, Sep 2 (IANS) United Arab Emirates (UAE) Economy Minister Sultan Bin Saeed Al Mansouri and Canadian Ambassador Sarah Hardetsky have discussed new initiatives to boost economic ties between the two countries, WAM news agency reported.
The air traffic between Canada and the UAE is of particular interest to both nations, with UAE carriers Emirates and Etihad looking to boost frequency of flights.

“The historical ties between the UAE and Canada date back to the 1970s, and the UAE is proud to devote time and resources to strengthening this valuable relationship,” the minister said, adding: “We will certainly re-energise the UAE-Canadian joint economic committee, and undertake many other steps to drive this relationship forward.”

The UAE is also keen to increase cultural exchange with Canada, he said.

The UAE remains among Canada’s top trading partners and constitutes the largest regional market for Canadian goods, accounting for 25 percent of the GCC (Gulf Cooperation Council) market share. The UAE’s trade with Canada surpassed $1.5 billion in 2008. In 2007, Canadian exports crossed $1.1 billion, an increase of 43.3 percent from the previous year.

More than 115 Canadian companies are active in the UAE, with more than 40 companies working in the oil and gas sector. UAE investors are also active in Canada.