Economic Interests

KEY FINDINGS

While Canada has experienced significant trade growth with the region in recent years, it is pertinent that a stronger effort must be made to strengthen and deepen Canada-Middle East economic relations. This is increasingly true for the six states that make up the Gulf Cooperation Council (GCC), one of the fastest growing regions in the world over the past decade.

The GCC, beyond offering substantial opportunity for economic activity itself, can also be seen as the crucial hub for trade in the MENA region. 

If Canada is to capitalize on the potential of this growing market, it must make engagement with the GCC a policy priority. Recent progress in Kuwait, Jordan and Morocco on FIPAs and FTAs are a good start, but lack the scope and market potential that would be opened up through a comprehensive Free Trade Agreement with the GCC.