Latest news with #ManinderSidhu
Yahoo
4 days ago
- Business
- Yahoo
Canada wants new trade partners. But markets like India and China come with major obstacles
International Trade Minister Maninder Sidhu says Canada has a chance to build new partnerships as U.S. tariffs continue to pummel world economies. But landing deeper ties with major markets like the U.K., India and China means overcoming irritants and fraught diplomatic relationships. "There's an appetite with partners and allies all around the world to do more with Canada," Sidhu said in an interview with CBC's The House. "There is an opportune window that we have to jump on." Sidhu told guest host Janyce McGregor that success to him is "getting businesses more comfortable dealing with overseas markets." He said Canada "should be screaming at the top of our lungs" about what it can offer the world. Since becoming minister of international trade, Sidhu has helped Canada deepen its trade relationship with countries like Ecuador and the United Arab Emirates. But larger markets like the United Kingdom, India and China that could play a big role in easing Canada's reliance on the U.S. are much more complicated. Canada has tried to deepen its economic ties with these countries before, but trade discussions either fizzled out or diplomatic tensions stymied discussions. In January 2024, the British government walked away from trade negotiations. A major sticking point was how much tariff-free access U.K. producers should have to the Canadian cheese market. Sidhu said the U.K. "is an important partner for Canada" and he met with his counterpart, British Secretary for Businesses and Trade Jonathan Reynolds, to discuss how to build up Canada-U.K. relations. When asked whether Canada's new law to protect supply management is blocking the U.K. from returning to trade discussions, Sidhu said Canada "has always remained at the negotiating table," the Liberal government will "never dismantle supply management" and that he wants to focus on trade "opportunities." There are signs of progress. In May, British High Commissioner Rob Tinline said the U.K. wants Canada to put forward a bill ratifying its accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Weeks later, Ottawa announced plans to do so this fall, allowing the British to enjoy trade with Canada under the terms of that agreement. During the G7 summit, Carney and Indian Prime Minister Narendra Modi agreed to designate new high commissioners. Both countries expelled top diplomats after the RCMP accused agents of the Indian government of playing a role in "widespread violence" in Canada, including homicides. When asked whether he sees a path for trade talks to resume between Canada and India, Sidhu said his constituents and Canadians at large are asking for "more connectivity between Canada and India." Sidhu also said trade and other business-to-business dealings have "been continuing over the last number of years on an upward trajectory." He said the government is taking a "step-by-step approach," and that restoring diplomats is an important step. Canada has also been making trade moves with China. Sidhu said the two countries have agreed to convene the Joint Economic and Trade Commission "to work through some of these issues and problems." In March, China announced it would apply tariffs on Canadian agricultural and food products as retaliation against levies Ottawa introduced last year on Chinese-made electric vehicles, steel and aluminum. China applied a 100 per cent tariff on Canadian canola oil, oil cakes and pea imports, and a 25 per cent duty on Canadian aquatic products and pork. Sidhu said he sees an openness to addressing Canada-China trade issues "and so we'll continue building on that. But the first part is to have those conversations being started… "Diplomacy can do wonders and we need to make sure that we're able to have those conversations with countries around the world. And that's exactly what I'll be doing."
CBC
5 days ago
- Business
- CBC
Canada wants new trade partners. But markets like India and China come with major obstacles
International Trade Minister Maninder Sidhu says Canada has a chance to build new partnerships as U.S. tariffs continue to pummel world economies. But landing deeper ties with major markets like the U.K., India and China means overcoming irritants and fraught diplomatic relationships. "There's an appetite with partners and allies all around the world to do more with Canada," Sidhu said in an interview with CBC's The House. "There is an opportune window that we have to jump on." Sidhu told guest host Janyce McGregor that success to him is "getting businesses more comfortable dealing with overseas markets." He said Canada "should be screaming at the top of our lungs" about what it can offer the world. Since becoming minister of international trade, Sidhu has helped Canada deepen its trade relationship with countries like Ecuador and the United Arab Emirates. But larger markets like the United Kingdom, India and China that could play a big role in easing Canada's reliance on the U.S. are much more complicated. Canada has tried to deepen its economic ties with these countries before, but trade discussions either fizzled out or diplomatic tensions stymied discussions. In January 2024, the British government walked away from trade negotiations. A major sticking point was how much tariff-free access U.K. producers should have to the Canadian cheese market. Sidhu said the U.K. "is an important partner for Canada" and he met with his counterpart, British Secretary for Businesses and Trade Jonathan Reynolds, to discuss how to build up Canada-U.K. relations. When asked whether Canada's new law to protect supply management is blocking the U.K. from returning to trade discussions, Sidhu said Canada "has always remained at the negotiating table," the Liberal government will "never dismantle supply management" and that he wants to focus on trade "opportunities." There are signs of progress. In May, British High Commissioner Rob Tinline said the U.K. wants Canada to put forward a bill ratifying its accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Weeks later, Ottawa announced plans to do so this fall, allowing the British to enjoy trade with Canada under the terms of that agreement. Deepening ties with India, China During the G7 summit, Carney and Indian Prime Minister Narendra Modi agreed to designate new high commissioners. Both countries expelled top diplomats after the RCMP accused agents of the Indian government of playing a role in "widespread violence" in Canada, including homicides. When asked whether he sees a path for trade talks to resume between Canada and India, Sidhu said his constituents and Canadians at large are asking for "more connectivity between Canada and India." Sidhu also said trade and other business-to-business dealings have "been continuing over the last number of years on an upward trajectory." He said the government is taking a "step-by-step approach," and that restoring diplomats is an important step. Canada has also been making trade moves with China. Sidhu said the two countries have agreed to convene the Joint Economic and Trade Commission "to work through some of these issues and problems." In March, China announced it would apply tariffs on Canadian agricultural and food products as retaliation against levies Ottawa introduced last year on Chinese-made electric vehicles, steel and aluminum. China applied a 100 per cent tariff on Canadian canola oil, oil cakes and pea imports, and a 25 per cent duty on Canadian aquatic products and pork. Sidhu said he sees an openness to addressing Canada-China trade issues "and so we'll continue building on that. But the first part is to have those conversations being started… "Diplomacy can do wonders and we need to make sure that we're able to have those conversations with countries around the world. And that's exactly what I'll be doing."
Mid East Info
18-06-2025
- Business
- Mid East Info
Dubai International Chamber establishes new international representative office in Toronto to boost trade and investments with Canada
H.E. Eng. Sultan Bin Saeed Al Mansoori: 'We are committed to helping Canadian businesses leverage Dubai's strategic location and competitive advantages as a gateway to global growth.' Non-oil trade between Dubai and Canada exceeded AED 10.2 billion in 2024. 4,112 active Canadian companies registered as members with Dubai Chamber of Commerce by the end of 2024, registering an annual growth of 29% Dubai, UAE – Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has officially launched a new representative office in Toronto, Canada. The strategic move reflects the chamber's commitment to bolstering economic ties and exploring avenues to increase bilateral trade and investments between Dubai and Canada. The office was inaugurated during a ribbon-cutting ceremony in Toronto in the presence of the Honourable Maninder Sidhu, Minister of International Trade for Canada, together with H.E. Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers, H.E. Abdulrahman Al Neyadi, Ambassador of the United Arab Emirates to Canada, and members of the Canadian business community. The opening further strengthens the chamber's expanding global network and is considered the first representative office in North America. The new office comes as part of the 'Dubai Global' initiative, which seeks to establish 50 representative offices around the world by 2030. H.E. Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers, commented: 'The launch of our new office in Toronto marks a significant milestone in strengthening the economic ties between Dubai and Canada. The office will serve as a strategic platform to connect businesses, facilitate investment flows, and open new channels for bilateral trade. We are committed to helping Canadian businesses leverage Dubai's strategic location and competitive advantages as a gateway to global growth.' The launch of the Toronto office comes at a time of strong and growing business relations between Canada and Dubai, with the value of non-oil bilateral trade exceeding AED 10.2 billion last year. By the end of 2024, a total of 4,112 Canadian companies were registered as active members of Dubai Chamber of Commerce, representing annual growth of 29%. This momentum has continued into 2025, with 289 new Canadian companies joining during the first quarter. The Toronto representative office will serve as a vital resource for businesses in both Dubai and Canada. The chamber's team will actively engage with the Canadian business community, cultivate strategic partnerships with key public and private sector stakeholders, and promote Dubai's unique advantages as a global business destination. The office will provide Canadian companies with valuable market intelligence and practical support to establish and grow their presence in Dubai. In addition, it will assist Dubai-based businesses looking to expand into the Canadian market by offering targeted insights, identifying high-potential trade and investment opportunities, and connecting them with reliable local partners to ensure a smooth and successful market entry. About Dubai International Chamber: Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, was established to promote Dubai as a global business hub, attract multinational companies and expand the emirate's trade ties with promising markets. The chamber is dedicated to achieving the objectives of the Dubai Economic Agenda (D33), which aims to double the size of the emirate's economy and establish Dubai among the top three global cities by 2033.
Canada Standard
18-06-2025
- Business
- Canada Standard
Dubai International Chamber establishes new international representative office in Toronto
DUBAI, 18th June, 2025 (WAM) -- Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has officially launched a new representative office in Toronto, Canada. The strategic move reflects the chamber's commitment to bolstering economic ties and exploring avenues to increase bilateral trade and investments between Dubai and Canada. The office was inaugurated during a ribbon-cutting ceremony in Toronto in the presence of Maninder Sidhu, Minister of International Trade for Canada, together with Eng. Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, Abdulrahman Al Neyadi, Ambassador of the UAE to Canada, and members of the Canadian business community. The opening further strengthens the chamber's expanding global network and is considered the first representative office in North America. The new office comes as part of the 'Dubai Global' initiative, which seeks to establish 50 representative offices around the world by 2030. Al Mansoori commented, "The launch of our new office in Toronto marks a significant milestone in strengthening the economic ties between Dubai and Canada. The office will serve as a strategic platform to connect businesses, facilitate investment flows, and open new channels for bilateral trade. We are committed to helping Canadian businesses leverage Dubai's strategic location and competitive advantages as a gateway to global growth." The launch of the Toronto office comes at a time of strong and growing business relations between Canada and Dubai, with the value of non-oil bilateral trade exceeding AED10.2 billion last year. By the end of 2024, a total of 4,112 Canadian companies were registered as active members of Dubai Chamber of Commerce, representing annual growth of 29%. This momentum has continued into 2025, with 289 new Canadian companies joining during the first quarter. The Toronto representative office will serve as a vital resource for businesses in both Dubai and Canada. The chamber's team will actively engage with the Canadian business community, cultivate strategic partnerships with key public and private sector stakeholders, and promote Dubai's unique advantages as a global business destination. The office will provide Canadian companies with valuable market intelligence and practical support to establish and grow their presence in Dubai. In addition, it will assist Dubai-based businesses looking to expand into the Canadian market by offering targeted insights, identifying high-potential trade and investment opportunities, and connecting them with reliable local partners to ensure a smooth and successful market entry.
Hi Dubai
18-06-2025
- Business
- Hi Dubai
Dubai International Chamber Opens Toronto Office to Boost Trade with Canada
Dubai International Chamber has opened its first North American office in Toronto, signaling a major step in strengthening economic ties between Dubai and Canada. The move is part of Dubai's broader push to expand global trade under the 'Dubai Global' initiative. The new office was launched during an official ceremony attended by Canadian Minister of International Trade Maninder Sidhu, Dubai Chambers Chairman Eng. Sultan bin Saeed Al Mansoori, UAE Ambassador Abdulrahman Al Neyadi, and members of the Canadian business community. Set to function as a strategic bridge, the Toronto office will help connect businesses in both markets, promote Dubai as a global gateway for growth, and facilitate investment and trade opportunities. It will also support Canadian companies looking to enter the Dubai market by providing tailored insights and on-the-ground assistance. The launch comes amid rising commercial activity between the two economies. In 2024, non-oil bilateral trade between Dubai and Canada exceeded AED 10.2 billion. Dubai Chamber of Commerce registered 4,112 Canadian companies by the end of the year, with 289 new businesses joining in Q1 2025 alone. Dubai International Chamber aims to establish 50 international offices by 2030. The Toronto office represents a key milestone in this effort, positioning both cities for deeper economic cooperation in the years ahead. News Source: Emirates News Agency
