Canada seeks greater cooperation and partnerships in key technology with government and private sector entities in the UAE to assist them boost consumer servicesas the two nations seek to deepen trade and economic ties, their consul general in Dubai said.
The North American country is interested in opening more lines of communication with government entities that provide essential services to residents in a fast-moving, technology-driven country, including those in the public services and transportation sectors, Tracy Reynolds said. The National in an interview in Gitex Global Technology Conference in Dubai.
Senior executives from Canadian technology companies have already held talks with the Dubai Electricity and Water Authority (Dewa) and the Roads and Transport Authority (RTA), on the sidelines of the event, he said.
The consul general declined to provide details of those discussions, but said announcements about partnerships and collaborations could be expected in the near future.
“We were able to sit down and talk to them and introduce them to Canadian companies, who discussed their technology solutions that can be used to improve the services provided to the residents of Dubai and the United Arab Emirates,” he said.
“There are a lot of businesses going on. The opportunities speak for themselves,” said Reynolds, who succeeded Jean-Philippe Linteau in July.
These potential partnerships with UAE entities will support Canada’s increased participation in Gitex, the emirate’s week-long technology conference and exhibition.
The number of Canadian companies has doubled this year in the global technology hub of Dubai to 60, he added.
Canada, one of the world’s leading economies, is home to the Toronto-Waterloo corridor, the largest technology cluster in North America outside of Silicon Valley.
The corridor is home to more than 15,000 technology companies, including at least 5,000 startups, and more than 300,000 employees in high-tech industries, data from economic body Waterloo EDC shows.
Canada is focused on promoting innovations in artificial intelligence, the Internet of Things, cybersecurity and virtual and augmented reality, with several other technology groups across the country, Reynolds said.
Canadian technology is already used in “almost every major government agency in Dubai and the United Arab Emirates,” he said.
“Some of our AI companies that come here are talking about how they can use data and information that Dubai-based companies can use to improve the quality of their services, drive efficiency and find alternative revenue streams.”
The technology exchange is part of broader economic cooperation between the United Arab Emirates and Canada. Since 2018, the value of bilateral trade between the two countries has grown steadily, rising 1.6 percent year-on-year to nearly C$2.6 billion ($1.89 billion) at the end of last year.
The value of trade reached C$1.4 billion in the first six months of this year, on track to surpass the highs reached in 2022.
Meanwhile, the added value of UAE investment in Canada exceeded $30 billion, according to Data from the UAE Ministry of Economy..
Linteau, who is now Canada’s ambassador to Saudi Arabia, previously said The National expect these numbers to continue growing.
“We are here to do business and have a relationship based on trust, loyalty and long-term goals,” Mr. Reynolds said.
Canada is also seeking to cooperate with the United Arab Emirates to boost supply chains to ensure economic, food and energy security, all of which are critical to Canada’s relationships with countries around the world.
Canadian companies already have billions of dollars worth of partnerships and investments in the UAE in sectors such as oil and natural gas, manufacturing, food industries, healthcare, education, banking and financial services, hospitality and tourism. Data from the UAE Ministry of Foreign Affairs shows.
The relationship between the two countries is growing as Dubai and the UAE “continue to present themselves as a very stable environment in which to do business and as a place to base your company and explore the rest of the region”, Mr Reynolds said. .
Updated: October 20, 2023 at 3:00 am