(MENAFN - Emirates News Agency (WAM)) Ways to enhance and expand economic cooperation between the UAE and Canada in sectors such as industry, technology, knowledge economy, renewable and alternative energy were discussed by the UAE Minister of Economy, Sultan Bin Saeed Al Mansouri and Canadian Minister of International Trade, Edward Fast, on a meeting on the sidelines of the World Economic Forum's Global Agenda Councils meeting in Davos, Switzerland. World Economic.
The meeting focused on tapping Canada's long experience in knowledge economy to establish innovation centers in the UAE similar to those in Canada and to direct joint investments to promising sectors in both coutnries.
The ministers also discussed ways to increase trade between the UAE and Canada and emphasised the importance of dialogue among private businesses from both countries to reinvigorate economic initiatives on setting up joint enterprises.
Al Mansouri, in remarks at the meeting, stressed that the UAE has transformed itself into a global hub and a favorite destination for regional and investors teeming with profitable opportunities, thanks to its strategic location, advanced infrastructure, political stability, security and modern economic legislations.
He noted that his visit to Canada in February last year contributed to building new economic bridges between the two countries.
For his part, Canadian Minister Fast emphasised that he is looking forward to visit the UAE in May this year.
Expressing Canada's desire for advancing its economic, investment and trade relations with the UAE to high levels, in sectors such as energy, mining and advanced industries in particular, Minister Fast noted that he will be leading a Canadian business delegation representing the country's different sectors.