ABU DHABI, UAE, Nov. 21, 2025 /CNW/ – The world is more dangerous and divided. The scale and speed of recent trade shifts and technological developments mean that Canada’s economic strategy must change dramatically. Canada’s new government is on a mission to double non-U.S. exports over the next decade and unleash $1 trillion in new investment in Canada over five years. As part of this mission, the Prime Minister, Mark Carney, today concluded his visit to Abu Dhabi, United Arab Emirates (UAE), where he deepened the trade relationship and secured new agreements to attract massive pools of foreign capital.
During the visit, Prime Minister Carney and the President of the UAE, His Highness Sheikh Mohamed bin Zayed Al Nahyan, signed the new Canada-UAE Foreign Investment Promotion and Protection Agreement (FIPA). This agreement establishes clear, predictable rules for investors and ensures a stable business environment to unlock billions in bilateral investment. It will give Canadian firms – from engineering and construction to clean tech and AI – the confidence to expand abroad, creating high-paying careers in Canada. Once in force, the FIPA will support long-term partnerships between Canadian and UAE industries and attract capital to nation-building projects.
The Prime Minister and His Highness also announced that Canada and the UAE launched negotiations toward a Comprehensive Economic Partnership Agreement (CEPA). A CEPA will cut tariffs, eliminate red tape, and expand market access for Canadian exporters of goods and services. With a $700 billion economy and one of the world’s fastest-growing logistics hubs, the UAE offers vast opportunity for Canadian sectors such as engineering, aerospace, agri-food, and seafood. A CEPA will also facilitate greater collaboration in the digital sectors. Canada’s similar agreements with the Republic of Korea and Chile doubled trade within a decade, and these new agreements have the potential to double Canada-UAE trade from $3.4 billion to $7 billion in the next decade.
While in Abu Dhabi, Prime Minister Carney met with UAE business executives, including the leadership of sovereign wealth funds. Discussions focused on expanding investment in critical minerals, energy, ports, and AI. Canada welcomes the UAE’s historic decision to invest $70 billion (US$50 billion) in Canada, a powerful vote of confidence in our economy and a major step forward in our new strategic partnership that will create high-paying careers, catalyse further investment, and build long-term prosperity for both our countries.
Building on these conversations, the following initiatives were announced:
- Canada’s Minister of International Trade, Maninder Sidhu, will lead a Canadian business delegation in early 2026, focusing on energy, AI, infrastructure, and agriculture. The delegation will also encourage major UAE investors and sovereign wealth funds to visit Canada and work with the Major Projects Office on opportunities in LNG, critical minerals, ports, data infrastructure, and more.
- Canada’s pension funds – with $2 trillion in capital – will visit the UAE next year to develop new opportunities for long-term investment and deepen partnerships in sectors such as energy, infrastructure, and AI.
- UAE sovereign wealth funds will visit Canada early next year to identify investment opportunities in Canadian energy, infrastructure, and technology.
- There will be more direct commercial flights between Canada and the UAE, increasing tourism, cargo, and trade.
The Prime Minister attended the Canada-UAE Investment Summit convening senior leaders from government, sovereign wealth funds, and the private sector where a number of agreements were concluded and advanced. This includes:
- Mila is launching a new partnership with the UAE’s Technology Innovation Institute to advance research on AI architecture.
- BlackBerry has signed a partnership with the UAE’s Cyber Security Council to strengthen cyber cooperation and infrastructure.
- Invest in Canada and the UAE’s Ministry of Investment will partner to identify and explore large-scale investment opportunities in Canada.
During his visit, the Prime Minister also emphasised Canada’s longstanding support for a just, lasting, and sustainable peace in the Middle East as well as our ongoing work with international partners to promote stability in the region.
Quote
“In a more divided and dangerous world, Canada is securing new deals with new partners. Our agreements with the UAE will attract billions of dollars in investments into Canada, open new markets and opportunities for our workers and businesses, and create high-paying careers across the country. Canada is diversifying our trade and finding new investors to fuel our plans to build Canada strong.”
— The Rt. Hon. Mark Carney, Prime Minister of Canada
Quick facts
- This was Prime Minister Carney’s first official visit to the UAE, and the first by a Canadian Prime Minister since 1983.
- The Prime Minister’s visit builds on recent high-level engagement between Canada and the UAE:
- In June 2025, Canada welcomed a ministerial delegation led by the UAE’s Deputy Prime Minister and Minister of Foreign Affairs, His Highness Sheikh Abdullah bin Zayed Al Nahyan. During the visit, both countries affirmed their commitment to deepen cooperation in trade and investment, innovation, and regional stability.
- Last month, the Minister of Artificial Intelligence and Digital Innovation, Evan Solomon, also visited the UAE, where he signed a memorandum of understanding to strengthen bilateral collaboration on AI and emerging technologies, further advancing bilateral trade and innovation ties.
- For over 50 years, Canada and the UAE have enjoyed a strong and broad relationship focused on building prosperity through economic cooperation, strengthening regional security, and advancing economic development in third countries.
- More than 150 Canadian companies have an operational presence in the UAE, and it is estimated that 60,000 Canadians live and work in the country.
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SOURCE Prime Minister’s Office
