Canada, UAE sign trade deal to boost commerce and investment — Pajhwok

KABUL (Pajhwok): Canada and the United Arab Emirates (UAE) have signed a comprehensive trade agreement to reduce trade barriers and boost investment between the two countries, Reuters reported. Canadian Prime Minister Mark Carney and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin ZayedAl Nahyan witnessed the signing of the Comprehensive Economic Partnership Agreement (CEPA), which aims to cut tariffs, reduce bureaucratic barriers and improve market access for businesses in both countries. Carney has pledged to double Canada’s non-US trade over the next decade amid the impact of US tariffs on the Canadian economy. Efforts to reach a trade deal with Washington have stalled, prompting Canada to pursue agreements with countries across the Asia-Pacific region, Europe and the Middle East. According to a statement from the Canadian Prime Minister’s Office, the agreement, once fully implemented, will reduce or eliminate tariffs on more than 99 per cent of Canada’s current exports to the UAE. The statement said the deal would benefit Canadian farmers, manufacturers of industrial machinery and power generation equipment, and the aerospace sector, among others. It added that the agreement would also address non-tariff barriers, provide a more predictable environment for trade and investment, and expand market access for Canadian goods and services in sectors including industry, agriculture, forestry, fisheries, environmental services and engineering. The agreement is expected to…