Canada had a cap on the number of flights from UAE. There were only 3 flights by both Emirates and Etihad per week and consequently, these routes were some of the most capacity constrained.
Canada has now allowed a massive increase of 68% in the number of sold seats (not flights) to UAE. Meanwhile, Egypt can increase its 4 flights per week to 7. Despite the immense increase in percentage terms, this will likely still leave the UAE-Canada route capacity constrained. The actual increase on this route will be higher since Canadian carriers are likely going to increase their capacity as well.
These changes come on the heels of another agreement that now allows citizens of UAE to visit Canada without a visa. Canadians have been able to visit UAE without visas for a few years now.
The agreements go into effect immediately and also cover a separate increase in cargo operations.
Edit: Canadian news source added
https://www.newswire.ca/news-releases/canada-expands-air-transport-agreements-with-egypt-and-the-united-arab-emirates-689357261.html
You’ll have to convince me that more than a small percentage of those flying EK or EY actually fly just to the UAE. Other than those flying AC which would have little partner onward or inbound feed at DBX, it’s a pretty good bet 90% are flying onward from the two Emirate airports. This will certainly impact AF, LH and BA and their onward flights. Of course both EK and EY are trimming their frequencies due to pilot shortages, reduced margins and at DXB runway refurbishing.