"Canada-UAE Investment Summit" New growth horizons are opened with the size of the investment partnership exceeding 260 billion dirhams
Abu Dhabi, November 21 / WAM / The Canada-Emirates Business Council, in partnership with ADNOC and XRG, hosted the “Canada-Emirates Investment Summit” in Abu Dhabi today, with the participation of government officials, institutional investors, and leaders from the private sector in the two friendly countries.
The summit affirmed the shared ambition of the UAE and Canada to enhance strategic investments and accelerate cooperation in priority sectors.
The summit witnessed the presence of His Excellency Mark Carney, Prime Minister of Canada, His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and CEO of ADNOC and its group of companies, Executive Chairman of XRG, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, and His Excellency Mohammed Hassan Al Suwaidi, Minister of Investment, Managing Director and Group CEO of the Holding Company (ADQ).
Discussions focused on the importance of stimulating institutional and alternative capital, enhancing national investment priorities, and expanding cooperation in the areas of energy, technology, infrastructure, and artificial intelligence.
During his speech at the opening of the summit, Musabih Al Kaabi, CEO of the Exploration, Development and Production Department at ADNOC and Co-Chairman of the Canada-Emirates Business Council, stressed the strength and vitality of the investment relationship between the two countries.
He explained that cooperation is continuing between Emirati and Canadian institutions to open new horizons for investment and innovation, and with the size of the bilateral investment partnership between Canada and the UAE exceeding 260 billion dirhams, the common ambition of the two countries has become greater, and by strengthening their cooperation together, they can accelerate the creation of innovative solutions in the fields of energy, technology and infrastructure, which contributes to creating and enhancing long-term value for our economies and supports the next stage of growth and prosperity.
The summit highlighted the recently signed agreement to protect and encourage investments between Canada and the UAE, which aims to enhance investor confidence and facilitate capital flows between the two countries.
His Excellency Dr. Thani bin Ahmed Al Zeyoudi praised the depth of the trade partnership between the two sides, noting that the volume of trade exchange currently reached 3.4 billion Canadian dollars.
Leading institutions and companies participated in the summit, including Mubadala Investment, ADQ, E&, Power Sustainable, TD Securities, Inovia Capital, Mila, TELUS Digital, Space42, and the Technological Innovation Institute, which reviewed their visions about innovation ecosystems and promising opportunities and focused their participation in today’s sessions on the topics of stimulating institutional capital, alternative investments, and enhancing competitiveness supported by artificial intelligence, in addition to the paths The process is to co-invest, develop technology, and enhance cooperation between Canada and the UAE.
The summit witnessed a series of high-level bilateral announcements and the signing of partnerships in multiple fields, confirming the commitment of Canada and the UAE to advancing sustainable growth and deepening cooperation between the two parties in the field of technology, as Invest in Canada and the Ministry of Investment signed an investment cooperation agreement, and BlackBerry and the Cyber Security Council of the UAE government concluded a partnership in the field of cybersecurity and secure communications, while the Mila Research Institute and the Technological Innovation Institute signed a strategic partnership in the field of promoting innovation in the field of artificial intelligence.
Jean Charest, partner at Therrien Couture Joli-Coeur and co-chair of the Canada-Emirates Business Council, stressed in the closing speech that the summit renewed the joint commitment to continue strengthening the economic and investment partnership between Canada and the UAE, advancing innovation, and providing new opportunities for sustainable growth and long-term prosperity for the two friendly countries.
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