Razan Al Nuaimi

Source: WAM

Recently, 195 meetings were organized between Canadian and Emirati investors specializing in the beverage and food sector, on the sidelines of a business meeting hosted by Dubai Chambers at its headquarters, to explore ways to develop joint cooperation and create new investment opportunities in the beverage and food sector between the two countries.

The meeting was attended by the Canadian Ambassador to the UAE, His Excellency Radha Krishna Panday, and the Director General of Dubai Chambers, Mr. Mohammed Ali Rashid Lootah, coinciding with the visit of a Canadian trade delegation from the food and beverage sector, who came as visitors to the Middle Eastern Arab country to explore opportunities for coordination, cooperation, and lucrative economic partnerships.

The Canadian delegation received all necessary support, and its members were informed about the requirements for exporting beverages and foods to the country, in addition to being introduced to the regulations and laws governing the export and import market and the food and beverage sector, and reviewing the lucrative opportunities that the country provides for global food and beverage companies.

Lootah affirmed that Canada is considered a strategic trade partner for the Emirate of Dubai, emphasizing Dubai Chambers' commitment to linking the Canadian market with Dubai's market by bringing together the relevant parties to facilitate the organization of meetings and events to strengthen the existing bilateral relations between them in the field of business and trade. The beverage and food sector is one of the largest, most competitive, and profitable commercial sectors in the Emirate of Dubai, offering a wide space for competition among investors.

The Director General of Dubai Chambers also added that both parties are working to bring together companies from both Canada and Dubai to explore the latent opportunities in this important sector and benefit from them, considering that developing trade relations with Canada is an important factor in enhancing joint business opportunities in the beverage and food sector, supporting efforts in the field of food security.

On his part, the Canadian Ambassador to the UAE, His Excellency Radha Krishna Panday, said: "Dubai Chambers have always been a trusted partner for Canada; together we have succeeded in enhancing trade relations between the two countries, in addition to always seeking to take advantage of opportunities to elevate this relationship. We are truly grateful to Dubai Chambers for hosting the Canadian delegation from the food and beverage sector and organizing successful meetings between Canadian and Emirati companies in this promising sector."

Through this organization of company matchmaking programs, Dubai Chambers provides companies in Canada and Dubai with an exceptional opportunity to cooperate in building partnerships that enhance the capabilities of the beverage and food sector, to achieve more trade exchange and economic growth between the two countries, especially since the great investment opportunities in this field in the UAE can be derived from the value reached by the sales of consumer food services in the UAE, which amounted in 2021 to approximately 16,600,000,000 Canadian dollars, an increase of 16.4% compared to 2020, according to Euromonitor data. By 2026, the value of sales at consumer food service outlets in the UAE is expected to reach 55 billion Emirati Dirhams, equivalent to 20,383,000,000 Canadian dollars, with a compound annual growth rate of 4.3%.