(MENAFN- Khaleej Times) Abu Dhabi - Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade, received a Canadian delegation led by Martin Zablocki, CEO of the Canadian Commercial Corporation (CCC), for discussions on best ways to bolster joint economic, trade and investment co-operation.
In the presence of a number of resident Canadian diplomats, Al Saleh said UAE-Canada's ties had contributed towards expanding two-way trade to nearly Dh16.2 billion ($4.4 billion). By the end of 2013, trade exchange reached Dh6.8 billion ($1.85 billion) and trade through free zones stood at Dh3.56 billion ($970 million). Figures show that 51 Canadian trade companies, 23 trade agencies and 788 trade marks were registered with the Ministry of Economy.
Al Saleh spoke about the UAE's strategic geographic location, investment climate, competitive incentives and world-class infrastructure which would be available to foreign investors, adding that these privileges can allow Canadian products to penetrate into the Middle East, North Africa and West and East Asia.
Establishing industrial projects in the UAE, he noted, will give Canadian companies a competitive edge in the UAE which has 34 free zones providing a free-of-tax investment climate and guarantees 100 per cent transfer of profits.
He added that participation of Canadian companies in exhibitions in the UAE will help them explore investment opportunities in the country and prospects for entering new markets.
The Canadian team gave a presentation on CCC's mandate as Canada's international contracting and procurement agency. The Corporation was established with a mandate "to assist in the development of trade between Canada and other nations."
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.