The UAE and Canada have concluded negotiations on a Comprehensive Economic Partnership Agreement (CEPA), the two countries said on Saturday, in a move aimed at boosting trade, investment and market access between the two economies.

The agreement was announced by UAE Minister of Foreign Trade Thani Al Zeyoudi and Canadian Minister of International Trade Maninder Sidhu during Al Zeyoudi's visit to Canada.

The deal is expected to boost cooperation in sectors including aerospace, agri-food, seafood, clean energy, advanced technology, data centres, aviation and critical minerals. It is also expected to support investment in projects including ports, mines and liquefied natural gas (LNG) facilities.

The two governments said the negotiations were completed in record time. The UAE described the deal as the fastest concluded under its CEPA programme, launched in September 2021, while Canada said it was the quickest trade negotiation it has completed.

Bilateral trade between the UAE and Canada reached about $4.2 billion in 2025, up 21% from the previous year, according to the two governments.

The agreement, which is subject to ratification before entering into force, will reduce tariffs, simplify trade procedures and improve market access for businesses in both countries, they said.

“The successful conclusion of CEPA negotiations between the UAE and Canada reflects the depth of the strategic relationship between our two nations and our shared desire to build a stronger, more resilient, and more sustainable economic partnership. It also underscores the UAE’s capacity to translate high-level political commitment into tangible economic outcomes that support mutual growth and long-term prosperity,” remarked Al Zeyoudi.

“Through this agreement, we are opening new horizons for the business communities of both countries, expanding investment and collaboration opportunities across priority sectors including clean energy, advanced technology, data centres, agri-food, aviation, and critical minerals - sectors where our two economies are genuinely complementary and where the potential for long-term, mutually beneficial partnership is considerable,” he stated.

The agreement builds on the existing Foreign Investment Promotion and Protection Agreement (FIPA) between the two countries, which provides protections for cross-border investments.

Sidhu said: “The conclusion of negotiations on a CEPA with the UAE, which began last month, is the fastest negotiation ever completed by Canada, marking an important milestone in the growing relationship between our countries. This agreement will unlock opportunities for Canadian businesses to utilise the UAE as a regional commercial hub to grow exports while encouraging investment from the UAE in projects that support our long-term economic goals.”

“The CEPA reflects the strength of our partnership that will deliver lasting benefits for businesses, workers, and communities in both countries,” he stated.

The agreement would help Canadian companies use the UAE as a regional hub to expand exports while encouraging Emirati investment in Canadian projects, he added.

The UAE has till date concluded CEPA negotiations or signed agreements with 38 countries since launching the programme in 2021 as part of its strategy to expand trade and investment with international partners.

By fostering greater access to global markets and increasing trade and investment flows with high-growth economies, the UAE is making significant strides towards its goal of doubling the size of its economy to over $800 billion by 2031 having already achieved $1 trillion in total trade value a full six years ahead of target.-TradeArabia News Service