Canada's improving economic relationship with UAE

ABU DHABI - UAE Ministry of Economy said it is seeking to improve in the fields of energy, particularly renewable energy, mining, both small and medium scale.

The new agreement and cooperation between Canada and the UAE is considered able to be a turning point in relations between the two countries had frozen.

More than a year after a diplomatic row erupted over airport landing rights in Canada, both countries have begun talks on a nuclear cooperation agreement which could lead Canada as a major supplier to four nuclear reactors in the United Arab Emirates.

In addition, the two countries also plan to UAE-Canada Business Council.

"This is the first step in enhancing our bilateral relations in order to get stronger," reports the state news agency Wam, quoting John Baird, Canada's foreign minister.

A day after Foreign Minister Sheikh Abdullah bin Zayed, praised the two countries' "strong and very good" relationship, Canada in the UAE said they welcomed the signs of the future is friendly.

"Things have been getting better for a while," said Karl Tabbakh, Chairman of the Canadian Business Council in Abu Dhabi.

"This is a step in the right direction. This is a confirmation form us to the good relationship we have."

Meanwhile, David Macadam, chairman of the Canadian Business Council Dubai and Northern Emirates, said: "Things like this is a good sign."

Deteriorating relations between the countries when the Canadian government refused to grant landing rights at the end of 2010 the UAE aviation.

The UAE is Canada's largest trading partner in the Middle East, with business between the two is estimated to reach U.S. $ 1 billion per year.

"Having more trade between the UAE and Canada and use the UAE as a hub, which is beneficial to both countries," Sheikh Abdullah said on Tuesday.

He added that the UAE investments in Canada reached approximately U.S. $ 10 billion. This week, more than 100 Canadian companies have expressed interest in investment opportunities in UAE