Prime Minister Carney Negotiates Landmark UAE Trade and Investment Accords During Maiden Official Visit, Including Unprecedented $70 Billion Investment in Canada

ABU DHABI (National Times): Prime Minister Mark Carney has concluded a landmark visit to Abu Dhabi, securing a series of major agreements aimed at dramatically expanding Canada’s trade relationship with the United Arab Emirates and attracting unprecedented levels of foreign investment into the Canadian economy. The visit comes as Canada pursues an ambitious strategy to double non-U.S. exports over the next decade and unlock $1 trillion in new investment over five years.

Carney and UAE President Sheikh Mohamed bin Zayed Al Nahyan signed a new Canada-UAE Foreign Investment Promotion and Protection Agreement, establishing clear and predictable rules for investors and setting the stage for billions of dollars in new bilateral investment. The agreement is expected to boost confidence for Canadian firms in sectors ranging from clean technology and AI to engineering and construction, while supporting long-term industrial partnerships.

The two leaders also announced the launch of negotiations toward a Comprehensive Economic Partnership Agreement that would reduce tariffs, cut red tape, and open new market access for Canadian exporters. With the UAE’s $700-billion economy and its role as a rapidly expanding global logistics hub, the proposed pact has the potential to double bilateral trade from $3.4 billion to $7 billion within a decade.

During meetings with senior business leaders and sovereign wealth funds, Carney welcomed the UAE’s historic decision to invest $70 billion in Canada, one of the largest commitments of foreign capital in the nation’s history. The investment is expected to drive growth in critical minerals, energy, ports, artificial intelligence, and major infrastructure projects.

The visit also produced a series of new initiatives, including forthcoming trade missions, increased commercial flights between the two countries, and expanded collaboration between key institutions. Mila will partner with the UAE’s Technology Innovation Institute on AI research, BlackBerry will work with the UAE’s Cyber Security Council on digital security, and Invest in Canada will collaborate with the UAE’s Ministry of Investment to identify large-scale investment opportunities.

Carney used the visit to reaffirm Canada’s commitment to peace and stability in the Middle East while highlighting the importance of deepening ties with strategic partners in an increasingly volatile global landscape.