Canada eyes growth in materials exports
BIG 5: Country's construction materials exports to GCC to top US $100m in 2007.
Canadian exports of construction materials to the GCC are set to cross US $101 million (AED 373 million) in 2007, according to Export Development Canada (EDC).
Recognising the extensive market opportunity present in the region's corporate and industrial sectors, a host of leading Canadian corporations are currently participating at the Big 5 exhibition.
Headlining the Canadian participation at the show is the Canada Trade Delegation, EDC and Women Engaging in Bridge Building (WEBB). AAKAR Developers, a Canadian real estate and property developer that has received considerable interest from Canadian investors for its Canada Business Centre Tower in Dubai Business Bay, is also taking part.
According to statistics from the EDC, the total volume of construction exports to the GCC from Canada was $80.5 million in 2005. Exports of construction machineries to Kuwait and the UAE amounted to $26.4 million; veneer, plywood and engineered wood products sold to the UAE were valued at $1.6 million; and metal windows and doors in Qatar and UAE raked in another $1.6 million in 2005.
"The growing trade between Canada and the UAE, despite vast geographical and cultural differences has inspired us to work closely with the Canadian Business Council and other Canadian corporations and organisations seeking to capitalise on the vast opportunities present in the Middle East market," said Yadvinder Singh, CEO, AAKAR Developers. "As a Canadian property developer, we carry a deep sense of responsibility to aid other Canadian businesses to advance the overall growth of Canada in terms of its contributions in the Middle East market.
"The Canada Business Centre Tower will play an important role in consolidating the efforts of companies and organisations dedicated to the development of trade between the two countries."