Prime Minister Mark Carney of Canada and His Highness President Sheikh Mohamed bin Zayed Al Nahyan of the United Arab Emirates commit to deepening bilateral engagement and economic cooperation
Prime Minister Mark Carney of Canada and His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, met on November 20 in Abu Dhabi to advance bilateral ties and set clear priorities for trade and investment. This historic meeting – the first at the leader level in over 40 years – underscores a shared commitment to promoting prosperity, stability and security through concrete actions.
Building on more than 50 years of bilateral relations, both leaders expressed a shared desire to further strengthen this partnership, advancing towards an ambitious roadmap to deepen cooperation across trade, investment, regional security, and people-to-people ties. Both countries recognize the capacity to leverage strategic strengths in AI and digital innovation, agri-food, water management and climate resilience, infrastructure, critical minerals, and energy to benefit both countries.
The visit of Prime Minister Carney to the UAE marks a new era in Canada-UAE relations, one that will further elevate bilateral ties and promote investment as a driver of innovation, economic growth, and expanded business opportunities.
Trade and economic relations
Canada and the UAE share strong and enduring economic relations, built on a robust foundation of mutual trust and shared commitment to deepen these ties. Bilateral merchandise trade reached CAD $3.4 billion in 2024, reflecting the depth and vitality of the partnership. The visit of Prime Minister Mark Carney underscores a deepening of this partnership, with a strong focus on trade diversification, and complementary engagement across strategic sectors, including energy, infrastructure, clean technology, food security, and innovation.
The Canada-UAE Joint Committee for Cooperation provides a key platform to enhance bilateral ties, assess progress, and align mutual priorities, while facilitating coordination between governments and encouraging private sector engagement. Building on this framework, the two leaders announced the signing of a Foreign Investment Promotion and Protection Agreement (FIPA) and expressed their shared commitment to launch negotiations toward a Comprehensive Economic Partnership Agreement (CEPA). These agreements provide investor protections, as well as liberalization and facilitation of trade in goods and services, broadening mutually beneficial commercial opportunities for Canadian and UAE companies and reinforcing a long-term, strategic, and sustainable economic partnership.
The two leaders also signalled their interest in strengthening people-to-people and commercial ties between the two countries through the announced expansion of the Canada-United Arab Emirates Air Transportation Agreement.
To further strengthen trade ties, Prime Minister Mark Carney announced that Canada’s Minister of International Trade, Maninder Sidhu, will lead a high-level business delegation to the UAE in early 2026. This mission will support Canadian companies in building partnerships with UAE counterparts and investors across key sectors, including energy, AI, ICT, security, infrastructure, agri-food, and advanced technologies. Read More.
