Dubai and Toronto to enhance trade, investment partnerships

Dubai Chambers has discussed ways to strengthen trade and investment partnerships between Dubai and Canada’s Ontario province during a series of meetings in Toronto.

The meetings also explored opportunities to support Canadian companies seeking to expand into Dubai and regional markets, together with prospects for cooperation in innovation, artificial intelligence, institutional investment, and international business development.

Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers, and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, participated in the meetings held by the chambers’ delegation with a number of leading Canadian economic and investment institutions. These included Toronto Global, the Ontario Chamber of Commerce, the Toronto Region Board of Trade, the Vector Institute, and Ontario Teachers’ Pension Plan.

“Dubai is continuing to strengthen its role as a global hub for trade and investment, as well as a preferred destination for companies seeking to expand into regional and international markets,”Al Mansoori said.

He added, “Recognising the importance of strategic economic partnerships as a key pillar of sustainable growth, we are focused on enhancing cooperation with Canada and expanding collaboration in strategic future-focused sectors. This will contribute to creating new investment opportunities, strengthening bilateral trade flows, and building a deeper and more sustainable economic partnership between Dubai and Canada.”

The meetings included discussions with Stephen Lund, CEO of Toronto Global, an organisation focused on attracting foreign direct investment and international companies to the Toronto region.

The two sides discussed opportunities to attract international investment and support Canadian companies seeking to benefit from Dubai’s competitive business environment. The meeting also explored collaboration through programmes and initiatives that help companies accelerate international expansion and strengthen their presence in global markets.

The Dubai Chambers delegation also met with Marilyn Horrick, Chair of the Board of Directors of the Ontario Chamber of Commerce, which represents a network of 60,000 members and is Canada’s largest provincial chamber of commerce.

The meeting explored opportunities for cooperation to support chamber members seeking to diversify their international markets. It also examined the services and solutions Dubai provides for companies looking to expand into regional markets, in addition to prospects for developing trade and investment relations between the business communities in Dubai and Ontario.

The delegation held a meeting with Giles Gherson, President and CEO of the Toronto Region Board of Trade, which serves as the chamber of commerce for Canada’s largest regional economy.

The two sides explored opportunities to strengthen trade links between Dubai and the Toronto region and support SMEs from both markets in entering new markets. They discussed ways to leverage Dubai’s role as a gateway to regional markets and Toronto’s position as a hub for access to North America.

The meeting also covered opportunities for cooperation in innovation, digital transformation, sustainability, and the development of smart cities.

The Dubai Chambers delegation also met with Glenda Crisp, CEO of the Vector Institute, a globally recognised institute specialising in artificial intelligence. The two sides discussed opportunities for cooperation with AI research centres and specialised institutions in Dubai, as well as mechanisms to support companies in adopting advanced technologies and advancing responsible innovation.

They also explored the exchange of expertise and best practices in the development and application of artificial intelligence solutions.

The delegation also held discussions with Jo Taylor, President and CEO of Ontario Teachers’ Pension Plan. The fund is one of the world’s largest pension plans and a major global investor.

The delegation highlighted Dubai’s investment strengths and the promising opportunities available across various economic sectors. The two sides also discussed opportunities to attract further investments to Dubai, support the expansion of the fund’s portfolio companies into regional markets, and explore areas for cooperation in innovation-driven sectors and sustainable investments.

The visit is part of Dubai Chambers’ international missions under the ‘Growth Corridors’ initiative, which aims to expand trade and investment cooperation between Dubai and global markets.

Meanwhile Dubai Chambers explored opportunities to enhance trade and investment cooperation between Dubai and Canada’s British Columbia recently during a series of meetings held in Vancouver last week.

The discussions focused on ways to support Canadian companies seeking to expand into Dubai and the wider region, together with opportunities to enhance cooperation in innovation, entrepreneurship, and investment attraction.

WAM