UAE and Canada conclude Cepa deal to eliminate trade tariffs

The UAE and Canada have finalized negotiations for a Comprehensive Economic Partnership Agreement (Cepa) to eliminate or significantly reduce tariffs between the two nations. The deal, concluded in record time on Sunday, 26 July, aims to increase non-oil trade which reached $4.1 billion (Dh15.06 billion) in 2023. Trade and Investment Expansion According to the Ministry of Economy, the agreement focuses on high-growth sectors including logistics, energy, and advanced manufacturing. By removing trade barriers, the Cepa provides UAE exporters with streamlined access to the Canadian market, North America’s second-largest economy. In 2023, Canada was the UAE’s 14th largest global trading partner, with bilateral trade growing by 15% compared to the previous year. The deal follows a series of bilateral discussions held throughout early 2026. Data from the UAE Federal Competitiveness and Statistics Centre indicates that the UAE currently hosts over 40,000 Canadian residents and more than 150 Canadian companies operating across various free zones and mainland jurisdictions. Regional Strategic Impact The conclusion of these negotiations is timely as the UAE accelerates its global trade…