Prime Minister Mark Carney’s visit to Abu Dhabi marked a major step in Canada’s trade diversification strategy, securing agreements that will expand market access and unlock unprecedented investment flows. Canada and the UAE signed a new Foreign Investment Promotion and Protection Agreement (FIPA), creating a stable environment for billions in bilateral investment and giving Canadian firms in engineering, clean tech, and AI the confidence to expand abroad. The two countries also launched negotiations toward a Comprehensive Economic Partnership Agreement (CEPA), which will cut tariffs, streamline trade, and open the UAE’s $700‑billion economy to Canadian exporters in aerospace, agri‑food, seafood, and digital services. Together, these agreements could double Canada‑UAE trade from $3.4 billion to $7 billion within a decade.
The visit also delivered a historic $70‑billion investment commitment from UAE sovereign wealth funds into Canada’s economy, targeting critical minerals, energy, ports, and AI. To build on this momentum, Canada announced reciprocal trade missions, expanded direct flights to boost cargo and tourism, and new partnerships between Canadian and UAE firms in AI, cybersecurity, and infrastructure. These moves position the UAE as a cornerstone of Canada’s global trade network, anchoring long‑term prosperity and high‑value careers through deeper economic integration and diversified supply chains.
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