Canada and the United Arab Emirates have signed a treaty for the avoidance of double taxation and the stimulation of investment between the two countries, according to a Gulf News report on Monday.
The agreement, designed to cement the already good relationship between the two territories, was signed at the weekend by the UAE's Minister of State for Financial and Industrial Affairs, Dr Mohammed Khalfan bin Kharbash, and Canadian Ambassador to the Emirates, Christopher Thomson.
Although there are a number of private sector investment ventures ongoing between the UAE and Canada, both men expressed the hope that the signing of this agreement will stimulate public sector joint investment projects.
'Through this signing, there will be more opportunities and an enhanced investment climate,' Dr Kharbash told reporters, adding that: 'The public sector in both countries must take part in enhancing trade and economic activities.' Mr Thomson echoed this sentiment.
According to the Gulf News report, the UAE also sealed an agreement for the encouragement and protection of investment with South Korea at the weekend.
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