Canadian Prime Minister Mark Carney and visiting Crown Prince Khaled of Abu Dhabi of the United Arab Emirates formally signed the “Comprehensive Economic Partnership Agreement” between the two countries on the 27th, aimed at eliminating economic barriers and promoting investment. According to a press release issued on the Canadian Prime Minister's official website, once the agreement is fully implemented, the current tariffs on more than 99% of Canada's exports to the UAE will be reduced or abolished. The agreement will also address non-tariff barriers, create a more predictable environment for trade and investment, and expand market access for Canadian goods and services, covering industries such as industry, agriculture, forestry, fishing and marine products, environment and engineering. The agreement is expected to officially enter into force in 2027. During the meeting, the two sides also advanced the 70 billion Canadian dollar investment plan previously promised by the UAE and signed a number of commercial and energy cooperation agreements. Reuters reports that at a time when trade relations between Canada and the US are strained, Carney is actively seeking trade agreements with countries in Asia Pacific, Europe, the Middle East and other regions. Analysts believe that Canada is strengthening its economic resilience by promoting economic and trade diversification, etc., to counter the impact of the Canada-US trade dispute.

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