Series of meetings held with officials from the City of Toronto, Province of Ontario, Montreal Chamber of Commerce, and Quebec’s Ministere de l’Economie de la Science et de L’Innovation (Ministry of Economy, Science and Innovation)
Trade mission delegation included representatives from key UAE organisations and focused on enhancing bilateral trade between the UAE and Canada
DMCC (Dubai Multi Commodities Centre) Executive Chairman Ahmed Bin Sulayem took part in a UAE trade delegation organised by Dubai FDI to Canada where UAE Officials visited the cities of Montreal and Toronto, in a bid to enhance further bilateral trade between the countries.
Mr. Bin Sulayem held a series of meetings with senior municipal and provincial officials. Representatives from leading private sector organisations attended. The purpose was to highlight DMCC’s position as a gateway to global trade, which companies from resource-rich Canada can utilise as a platform to access emerging markets across Africa, India and East Asia.
In a meeting hosted by the municipality’s trade council, Montreal Intentional, UAE Officials and the Mayor Denis Coderre discussed the important role that the UAE plays in Canada’s foreign trade as its 15th largest export market. The UAE’s strategic geographic position as a re-export hub and its ability to facilitate access to emerging markets are the principal reasons driving foreign trade.
Commenting on the unique advantages that the UAE can provide Canadian companies, Mr. Bin Sulayem said:
“The UAE sits at a strategic global crossroads between East and West, and North and South, and provides direct access to some of the world’s most dynamic emerging economies. Speaking on behalf of DMCC, our dedicated infrastructure and regulatory framework can facilitate significant value addition for Canadian companies looking to expand their reach to high-growth markets and access promising new opportunities. We welcome close collaboration with decision-makers in Montreal, Toronto, and across Canada to enhance trade flows through Dubai and enable Canadian businesses to grow further.”
The delegation met with the Honourable Christine St-Pierre, Quebec’s Minister of International Relations in Montreal; and sector specialists for the Ontario Government’s Ministry of International Trade; and with representatives from leading Canadian companies in the aerospace, financial, legal and medical sectors. Throughout the mission, participants discussed how stakeholders in each country could better identify additional opportunities for collaboration.
Al Hinton, Advisor at Dubai Investment Development Agency (Dubai FDI), Department of Economic Development, Government of Dubai, said:
“The UAE is an important global partner for Canada, and our relationship is deepening. Canada’s exports to the UAE are continuing to rise, growing 14 percent annually according to the most recent data. For Canada, the UAE offers considerable potential and opportunity beyond capital investment. More than 150 Canadian companies have based their regional headquarters in the UAE, and we are keen to identify further opportunities to create an even more rewarding proposition.”
Canada is an important market for DMCC, with the country holding the world's eighth-largest reserves of gold, at 2,000 tonnes, the 10th-largest silver reserves at 7,000 tonnes, and the fourth-largest platinum group metals (PGM) reserves at 310 tonnes, with reserves mainly found in the provinces of Quebec and Ontario. Substantial diamond reserves are abundant in the Northwest Territories.
Mr. Bin Sulayem concluded: “At DMCC, we have created an environment where businesses from across the globe can flourish. We have built an ecosystem of physical, financial and digital infrastructure as well as regulatory frameworks, services, and expertise needed to build a marketplace for success.”
Dubai FDI facilitated the mission. Representatives of key UAE entities taking part included Dubai FDI, Dubai Exports, Dubai Science Park, Dubai International Financial Center (DIFC), DIFC Courts, Department of Tourism & Commerce Marketing (DTCM), and The Emirates Group.