An agreement was signed between the UAE and Canada on the protection and promotion of investment in order to enhance economic cooperation and foster strategic investment partnerships in support of their shared development goals.

The signing of the deal followed a meeting by UAE President Sheikh Mohamed bin Zayed Al Nahyan and Mark Carney, Prime Minister of Canada at Qasr Al Shati in Abu Dhabi.

During the meeting, the two leaders held talks to review bilateral relations and explore opportunities to enhance collaboration in line with both countries' development ambitions. Both sides reaffirmed their shared commitment to building on the longstanding partnership between the UAE and Canada, which spans more than five decades.

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Carney's visit to the country also saw the UAE and Canada announcing a memorandum of understanding between their two governments on investment cooperation.

Sheikh Mohamed and Carney expressed their keenness to foster partnerships in key development areas including investment, trade, technology, artificial intelligence, clean energy, climate action, education, culture, and sustainability.

Promoting peace

A number of regional and international developments of mutual concern were discussed as well, as the two sides affirmed their commitment to supporting efforts to promote peace, security, and regional and global stability for the benefit of all nations and peoples.

Sheikh Mohamed noted that UAE–Canada relations represent a model of cooperation aimed at advancing development and prosperity both regionally and globally. He highlighted the two countries' shared outlook on issues that support development, peace, and multilateral cooperation in the interest of all nations.

While commending the progress of UAE–Canada relations, Carney affirmed his country's keenness to strengthen areas of cooperation that serve the shared interests of both sides and contribute to global peace, stability, and prosperity.

(With inputs from Reuters)

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